The Oyo State Government has announced plans to commence the 2025 agricultural loan scheme with a single-digit interest rate for farmers.
The Chairman of the Agricultural Credit Corporation of Oyo State (ACCOS), Sheik Taofeek Akeugbagold, disclosed this through a press statement in Ibadan, stating that preparations are underway for loan disbursement to enhance farmers’ productivity.
Akeugbagold said this is a reaffirmation of the Oyo State government’s commitment to food security.
He explained that the core mandate of his agency is to facilitate the mobilization of funds for the provision of agricultural loans at an affordable rate and to ensure easy access to loan facilities to farmers
Akeugbagold expressed concern about some defaulting beneficiaries of the 2024 loan scheme.
He said, “Let me express my disappointment over the poor repayment rate among 2024 beneficiaries of the ₦1 billion SAFER loan. Defaulters will be barred from accessing the 2025 scheme.”
The Chairman warned that the loans were guaranteed by civil servants, and if farmers fail to repay, deductions will be made from their guarantors’ salaries.
He urged all defaulting farmers to clear their outstanding debts immediately to remain eligible for future loan opportunities, especially the forthcoming 2025 agricultural loan program.
Alimosho Local Government will be the center of attention for Ndigbo in Lagos as the…
The Abuja Investment Company Limited (AICL) has reinforced its commitment to youth entrepreneurship and innovation…
Guinness Nigeria Plc has announced its unaudited financial results for the quarter ended 30 June…
The political crisis brewing within the Accord Party in Osun State deepened on Tuesday as…
Guaranty Trust Holding Company Plc, GTCO, has announced full plans for its 16th Annual Autism…
For every young footballer who laces up a pair of boots in search of a…