Ogun disburses N50m to boost agriculture
In order to achieve food and nutrition security, a sum of #50Million has been disbursed to Ijebu Development Initiative on Poverty Reduction (IDIPR), Eriwe, towards the development of agriculture and fish sub-sector in the state.
The Commissioner for Agriculture and Food Security, Hon. Bolu Owotomo during the presentation of the N50 million Commercial Agriculture Credit Scheme (CACS) Loan Cheque, at the Conference Room, Ministry of Agriculture, Oke-Mosan, Abeokuta, said IDIPR is a private sector driven organisation established in 1999, with the aim of alleviating poverty and improve livelihoods of the poor and vulnerable people in the state.
He explained that the amount was disbursed at a tenure of 18 months, inclusive of a 6 month moratorium period at a single interest rate of 9 percent per annum, adding that the gesture was as a result of the faithfulness of the organisation in remitting previous loans and its roles in food security in the state.
“As at today, the Ogun state government has disbursed a total sum of N110Million to the organisation since 2012 in different batches which the body repaid as and when due,” he said.
The Commissioner stressed that the State agricultural intervention was not only peculiar to the fish subsector, but the entire value chain, noting that about one thousand metric tonnes of maize was recently released to the poultry sector at a stiff discount to reduce the cost of production.
Owotomo highlighted some of the achievement of the present administration to include, reforms of agricultural land allocation to investors to enable them undenied access to agricultural land, distribution of planting materials to 150 women cassava farmers in collaboration with National Agricultural Land Development Authority (NALDA), capacity building of 12,000 farmers on sustainable agriculture under the Value Chain Development programme and constructive partnership with institutions and agricultural investors, amongst others.
In his remark, the Permanent Secretary, Mr. Samuel Adeogun admonished them to make judicious use of the loan, saying that by so doing, would make them a pride to other clusters.
The General Manager, Dr. Adeniyi Marcus commended the state government for the gesture, assuring that the group would live up to expectations by prudently making use of the loan.
