Oyo Government States Criteria For Disbursing N1 Billion Loan To Farmers


The Chairman, Oyo State Agricultural Credit Corporation of Oyo State, (ACCOS), Sheik Taofik Akeugbagold, has listed the criteria being used to disburse the One Billion Naira loan to farmers to ensure geographical spread.

Akeugbagold made the revelation during a sensitization tour to the 7 geopolitical zones in the State which ended today.

The muslim cleric also said to access the N1b single digit interest loan under the Sustainable Action for Economic Recovery (SAfER) sub-committee, an applicant must be a duly recognized farmer.

Speaking further on the criteria for the disbursement at Oke Ogun Zone 1, Iseyin area, Sheik Akeugbagold, revealed that the reason for the tour was to interact and identify genuine farmers in the state.

He hinted that the corporation will guard against giving loans to ‘farmers on paper’, saying this would ensure that the targeted farmers benefit from the gesture. 

The Chairman explained that after the sensitization exercise, Application forms could be gotten at each Local Government Council at the office of the Director of Agriculture.

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He added that the ACCOS Field Officers and the identified Banks in each domain will be involved in the process. 

Speaking on the conditions for qualification, the Chairman said the form can only be collected individually free of charge.

He stressed that the social media or internet is not a sales point, adding that no official of the Board or the Ministry of Agriculture will liaise with residents from the internet. 

Akeugbagold said an applicant will need a Civil Servant, from Grade level 07 and above as guarantor, depending on the amount of loan requested.

According to him; “We are moving round the 7 zones of the State to sensitize farmers on the need and where to access the N1 billion loan under the SAfER Sub-committee of food security.”

“The Forms would be out after the sensitization tour and they will be available for collection free of charge through the Directors of agric in their various councils, the severed banks and ACCOS adding that the form is not online.” 

“However, please note that group lending would not be entertained,” the Board Chairman stressed.

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In his remarks, the General Manager of the Board, Comrade Emmanuel Ogundiran revealed that farmers owing the Board, the State Government or any of the participating financial institutions would not have access, except if they are cleared by the Board or the participating institutions.

He hinted that the exercise would not be politicized in any form, saying that the Government through the Ministry of Agriculture and Rural Development has equally trained farmers on climate resilience.

He added that the government has put plans in place to enhance peaceful co-existence between herders and farmers, through continuous meetings with the affected parties.

In his address at Ibarapa Zone, the Commissioner 3, Civil Service Commission, Chief Ogunjinmi commended Governor Makinde for being a visionary leader whose efforts in the agricultural sector would forever be appreciated, urging the farmers to make judicious use of the loan when granted.

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