Abdul-Hameed Olawale
26 December 2011
Osun state Governor, Alhaji Rauf Aregbesola has granted N500 million interest free loan to farmers in the state as part of efforts to boost agricultural activities in the state.
The Governor, during the presentation of cheques to beneficiaries at the ceremony to flag off the N500 million government-guaranteed agricultural loan to farmers, re-affirmed his interest and determination to use agriculture as the focal point for the socio-economic and industrial transformation of the state.
The state is operating the interest free loan to farmers in conjunction with the Bank of Agriculture.
Presenting loans to about 4, 000 farmers at a ceremony in the state, Aregbesola said it would enhance food production and agriculture in the state.
The Governor decried the volume of loans given out by the previous administration, which he described as inadequate and going to the wrong hands.
He said: “You will all see today that the money we are giving out is no peanuts as it used to be in the past. What we are doing now is to give out adequate loans to genuine farmers without any favour or party affiliations.
“The Government of Osun will not be caught unguarded with impending danger ahead in the area of food production. The Federal Government, we were told used N600 billion annually to import food into the country. We have to be proactive, hence the distribution of loans to farmers to increase food production in our state.”
The governor charged beneficiaries to utilize the loan judiciously for agricultural enterprises as diversion to non-agricultural activities will not be tolerated.
Earlier, the Managing Director of the Bank of Agriculture, Dr. Mohammed Saturaki, commended governor Aregbesola for his proactive steps toward the impending food famine that may occur if drastic measures were not taken by relevant authorities.
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