News in brief: Oyo state has approved â¦1 billion for the SAFER Program to support smallholder farmers, enabling them to purchase inputs and invest in agricultural technologies.
The Oyo State government, has approved the release of â¦1 billion to farmers under the Sustainable Actions for Economic Recovery (SAFER) Program, in an effort to improve food security in the state.
The Chairman of the Agricultural Credit Corporation of Oyo State (ACCOS), Sheikh Taofeek Akeugbagold, made the anouncement during a press conference in Ibadan.
He explained that the SAFER Program is a government initiative aimed at supporting smallholder farmers and boosting agricultural productivity. The grant is expected to help farmers purchase inputs, such as seeds, fertilisers, and pesticides, as well as invest in new technologies and equipment. Furthermore, he revealed that the state has been divided into seven zones for ease of administration and each zone will experience a sensitisation campaign before the grant is disbursed. Farmers will be informed on how to benefit from th fund at their zone’s town hall meetings.
In related news, it has also launched a new initiative called the GSM Food Bank, which will provide farmers with access to affordable inputs and markets. The program will partner with mobile phone operators to provide farmers with information on input prices and market opportunities.
Akeugbagold advised loanees or would-be beneficiaries to be prudent with their loan requests by not taking more than what they would need for their farming enterprise. He also reminded guarantors that they are standing surety for whatever loan request made by the loanees.
ACCOS was established by the Oyo State Edict No. 6 of 1986, primarily to provide credit support to smallholder farmers in the state. It is funded by a system of revolving accounts which were built up over the years.
