JUST IN: Makinde Gets Oyo Assembly’s Nod To Borrow N2bn To Boost Agriculture


By Henry Odeh



In line with the agenda of present administration in Oyo State to take agriculture to an enviable level, the Oyo State Government is set to implement the Anchor Borrower’s Program in the state.

To this end, the Oyo State House of Assembly has approved the request of Governor Seyi Makinde to access 2billion naira loan facility from the CBN for the implementation of the Anchor Borrowers Program.

The loan facility will be accessed from the Central Bank of Nigeria, CBN through the Fidelity Bank.

The request was contained in a letter forwarded to the Legislature by the Governor and read by the Speaker, Hon Adebo Ogundoyin on Monday.

The loan facility, according to the Governor is being sought for the Oyo State Ministry of Agriculture and Rural Development, and it is part of the plan of the state Government to develop the Agricultural sector.

Governor Makinde in the letter hinted that the proposed loan facility would be used to fund cluster farming for maize, cassava, rice and tomatoes while about six thousand youth are expected to participate in the Anchor Borrowers Program.

The letter read in part ” The participants will be categorized under micro enterprise of the State agricultural program with the expectation that they will develop into small and medium enterprises in synergy with the Oyo State Agricultural Development Agency, OYSADA”

While commenting on the request, the Deputy Speaker, Hon Muhammad Fadeyi and other lawmakers agreed that the Anchor Borrowers Program if well implemented would assist in engaging the youth across the State and will ultimately assist in reducing the high level of unemployment in the country.

The Speaker Oyo State House of Assembly, Hon Adebo Ogundoyin noted that the Anchor Borrowers Program was coming at the right time adding that many youth who are interested in Agriculture do not have the financial wherewithal to go into full practice.

Hon Ogundoyin commended the resolve of Governor Makinde to improve the Agriculture sector as well as encourage youth participation in farming and Agricultural related activities.

The House thereafter directed its Committees on Agriculture and Natural Resources as well as Public Account, Finance and Appropriation to perform thorough oversight functions in order to ensure full implementation of the Anchor Borrowers Program so as to achieve the desired results.

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