Oyo Assembly Approves Makinde’s 7.6Billion Naira Agric Loan, To Kickstart Project From Ibadan And Ibarapa zones

The Oyo State House of Assembly has approved the request of Governor Seyi Makinde to access seven point six billion naira agricultural loan from the Central Bank of Nigeria (CBN).

The request was contained in a letter forwarded to the Oyo state house of Assembly by the Executive arm of Government, and read at the plenary today by the Speaker,Hon Adebo Ogundoyin.

Pursuant to the commitment and resolve of the Oyo state governor, Engr Seyi Makinde to industrialize Oyo state through agribusiness, the Oyo state government is seeking to access the 7.6billion naira loan to develop Akufo and Eruwa farm settlements into farm estates in the state in order to make agribusiness more attractive and lucrative.

The two farm settlements are to serve as pilot projects which will be used to develop other farm settlements across the state.

While reacting to the request from the Executive arm,Hon Isiaka Tunde (Oyo East/West) and Hon Dele Adeola (Iseyin/ Itesiwaju) stressed the need for Governor Seyi Makinde to spread the scope and usage of the agricultural loan to other zones in the state and not limit it to Akufo and Eruwa farm settlements alone.

Also contributing,the deputy Speaker, Hon Abiodun Fadeyi and the Minority Leader,Hon Asimiyu Alarape who supported the call for the extension of the same project to other areas across the state equally urged the Executive arm of Government in Oyo state to ensure judicious use of the Agricultural loan to enable it achieve the purpose for which it is sought.