In its quest to ensure that farmers get loan with ease, the Oyo State government has approved the inclusion of executives of farmers groups as guarantors.
The state government took the steps to ease the guarantor’s requirements for the ongoing SAfER/Agricultural Credit Corporation of Oyo State (ACCOS) scheme for farmers.
The Chairman, ACCOS, Sheikh Taofeek Akeugbagold, noted that the government took the step in a bid to ensure more farmers in Oyo State have access to Agricultural loan schemes.
Speaking with stakeholders in Ibadan recently, he said Governor Seyi Makinde has approved inclusion of executives of farmers groups, to stand as guarantors to interested farmers seeking loans from the State Agricultural Credit Corporation.
According to him, the development will allow executive members of the farmers’ associations to stand as guarantors for their group members requesting for SAfER/ACCOS Agric loan, adding that this aligns with Governor Makinde’s commitment to supporting the agricultural sector in the state.
“We observed that most farmers were not able to access the N1b agric loan under the Sustainable Action for Economic Recovery (SAfER) due to bureaucratic bottleneck of provision of civil servants working with State Government as guarantor, hence Governor Makinde approved inclusion of farmers groups’ executives to stand in for interested farmers in accessing the facilities.”
This according to him will remove the bottleneck of civil servants guarantorship, saying that this would enhance productivity of farmers and by extension enhance food security in the state and the country at large”.
The Chairman also emphasized that the change in the guarantor’s requirements will benefit farmers who may not know any civil servant, adding that it will allow executive members of registered farmers associations to fulfil this role, seamlessly.
In his welcome address, the Coordinating Director Agricultural Credit Corporation of Oyo State, Mr. Tunde Oladejo reminded previous beneficiaries of the SAfER/ACCOS loan to start repaying their loans to the respective disbursing banks.
He added that timely repayment is crucial to ensuring the sustainability of the loan scheme while also, allowing other farmers to benefit from the intervention.
Present at the meeting were, Chairman, Poultry Association of Nigeria, oyo State Chapter, Elder Omikunle Omidokun, Vice Chairman, All Farmers Association of Nigeria, Oyo State Chapter, Mr. Muniru Oladayo, and Chairman, Nigerian Cassava Growers Association, Oyo State Chapter, Mr. Basir Adesoyan amongst others.