Oyo Government Eases Requirements For Agricultural Loan Scheme For Farmers 

The Oyo State Government has taken steps to ease the guarantor’s requirements for the state’s agricultural loan scheme tagged: SAfER/Agricultural Credit Corporation of Oyo State (ACCOS) for farmers.

The Chairman of ACCOS, Sheikh Taofeek Akeugbagold, disclosed that the action was taken in a bid to ensure more farmers in Oyo State have access to agricultural loan schemes.

Speaking with stakeholders in Ibadan recently, the chairman said Governor Seyi Makinde has approved the inclusion of the executives of farmers’ groups to stand as guarantors to interested farmers seeking loans from the state Agricultural Credit Corporation.

He stated: “The development will allow executive members of the farmers’ associations to stand as guarantors for their group members requesting that the SAfER/ACCOS Agric loan 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’s decision to approve the inclusion of farmers groups’ executives to stand in for interested farmers in accessing the facilities,” Akeugbagold explained.

He noted that the decision would enhance productivity of farm crops, and by extension enhance food security in the state and the country at large, emphasising that the change in the guarantor’s requirements will benefit farmers who may not know any civil servant, and allow executive members of registered farmers’ associations to fulfil the role, seamlessly.

In his address of welcome, 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.

Oladejo stated 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 Branch, Elder Omikunle Omidokun; Vice Chairman, All Farmers Association of Nigeria, Oyo State Branch, Mr Muniru Oladayo; and Chairman, Nigerian Cassava Growers Association, Oyo State Branch, Mr Basir Adesoyan, amongst others.

Oyenike Oyeniyi