Oyo Empowers 1,407 Farmers With ₦460 Million Loans To Boost Food Security

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News in Brief:
– Oyo State disburses ₦460 million in loans to 1,407 farmers as part of its food security and economic recovery initiative, further supported by maize and fish feed distributions.
– A second phase with ₦550 million is planned, showcasing the government’s ongoing commitment to empowering the agricultural sector.

In a bid to mitigate economic hardship and ensure food security, the Oyo State government has disbursed ₦460 million in loans to 1,407 farmers across the state, according to a news report.

This initiative is part of the Sustainable Action for Economic Recovery (SAfER) programme. It also aligns with Governor Seyi Makinde’s earlier pledge of ₦1 billion to support agricultural businesses following the removal of fuel subsidies.

The single-digit loans, channeled through various banks, were made available to farmers irrespective of their religion or political affiliation.

Chairman of the SAfER Committee and Chief of Staff to the Governor, Otunba Segun Ogunwuyi, stressed the program’s accessibility. He stated that no farmer needs to know anyone in government to access the loans. Additionally, he encouraged farmers to utilise this opportunity effectively and reiterated the government’s ongoing commitment to the agricultural sector.

This intervention builds upon earlier SAfER program initiatives like the distribution of 24,000 bags of maize to poultry farmers and providing fish feed to 1,000 farmers.

Overall, these combined efforts demonstrate the Oyo State government’s multi-pronged approach to addressing food security challenges and fostering economic recovery.

Meantime, Ogunwuyi announced a second phase of the program, set to disburse ₦550 million to different categories of farmers, highlighting the government’s continued commitment to empowering the agricultural sector.

Joseph Akahome
Joseph Akahome
Joseph O Akahome (OJ) is a writer, with a Bachelor of Arts degree in English and Literature from the University of Benin. He is an avid agriculturist, with a bias for poultry and an insatiable appetite for chicken wings. When he is neither reading nor researching, he likes to spend recreational time playing board games, or swimming in serene forested lakes.

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