SAfER disburses N416m loan to 1,407 farmers in Oyo
By Adewale Owoade
The Chairman, Agricultural Credit Corporation of Oyo State, Sheikh Taofeek Akewugbagold, says Oyo State government has disbursed soft loans of N416.850million to 1,407 farmers under the Sustainable Action for Economic Recovery (SAfER) programme.
Akewugbagold stated this while briefing newsmen on the progress of the SAfER programme, in Ibadan.
He said Gov. Seyi Makinde in 2023 provided the sum of N1billion under the SAfER initiative to support farmers to cushion the effects of fuel subsidy removal by the federal government.
The loan is also to support farmers who lack the capacity to access credit from financial institutions due to stringent conditions.
The chairman disclosed that additional N340.2million will be disbursed to another set of 1,227 farmers across zones, starting from Feb. 9, 2024.
“With the present economic hardship being experienced by the citizenry of the state, our corporation has been given a marching order to better the lot of the peasants.
“Most importantly in the area of agriculture, by granting soft loans to individual members of the farming society.
“Undoubtedly, this project has been non-partisan as it is available for the generality of legitimate farmers and would-be farmers of the state, including the youths that were trained by the state government under the YEAP programme.
“There is no gainsaying the fact that disbursement has taken place and is still ongoing as quite a number of farmers have benefited and some will still benefit under the intervention programme.
“The sum of N416.850 million has been disbursed to 1,407 farmers.
“The programme is still ongoing as the 4th batch has already been considered and funds shall be disbursed across the various zones as from tomorrow Friday, 9th of February, 2024.
“Invariably, N340.270million shall be disbursed to another 1,227 beneficiaries across the state, starting from 9th of February, 2024.
“I want to admonish all the beneficiaries to complement the effort of the government by being faithful with the funds they obtained.
“And to reciprocate the kind gesture of the government by paying back the funds on the due date such that others could benefit from it as a revolving fund.
“I also want to appreciate His Excellency, the Executive Governor of the State, Eng. Seyi Makinde, who has magnanimously approved the release of the sum of N1billion for the actualisation of this SAfER Programme,” Akewugbagold said.
Earlier, in his opening remarks, the General Manager of the corporation, Mr Emmanuel Ogunniran, lauded Makinde for his efforts. (NAN) (www.nannews.ng)
