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Osun approves N377m loan for rice farmers



Osun approves N377m loan for rice farmers

The Osun State Government has approved N377.1 million agriculture loan for 1,000 rice farmers in three Local Government areas of the state to cultivate 1,000 hectares of farmland.

This was made known in a statement by the media aide to Gov. Rauf Aregbesola, Sola Fasure, on Sunday in Osogbo.

According to the statement, Aregbesola said the loan would be accessed from the Bank of Agriculture.

The governor said farmers in Ola-Oluwa, Egbedore and Ejigbo Local Governments would benefit from the loan which is a facility under the Anchor Borrowers Programme of the Central Bank of Nigeria.

He said the loan was approved by the State Executive Council as requested by the State Ministry of Agriculture and Food Security.

Read Also: Oyo traders, others to pay N10 dally tax

In June, Ekiti State Government signed a Memorandum of Understanding with its Lagos state counterpart to provide 10,000 hectares of land for rice cultivation, while Lagos state government would provide the fund and technical expertise needed for the proposed mechanized rice farming.

President Muhammadu Buhari had, during the commissioning of the first Rice Seedlings Plant in Africa built by Cross River State government, urged states yet to take advantage of the zero-oil economic road map of the Federal Government to take a cue from Cross River State.


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