In line with the agenda of present administration in Oyo State to take agriculture to an enviable level, the Oyo State Government is set to implement the Anchor Borrower’s Program in the state.
To this end, the Oyo State House of Assembly has approved the request of Governor Seyi Makinde to access 2billion naira loan facility from the CBN for the implementation of the Anchor Borrowers Program.
The loan facility will be accessed from the Central Bank of Nigeria, CBN through the Fidelity Bank.
The request was contained in a letter forwarded to the Legislature by the Governor and read by the house.
The loan facility, according to the Governor is being sought for the Oyo State Ministry of Agriculture and Rural Development, and it is part of the plan of the state Government to develop the Agricultural sector.
Governor Makinde in the letter hinted that the proposed loan facility would be used to fund cluster farming for maize, cassava, rice and tomatoes while about six thousand youth are expected to participate in the Anchor Borrowers Program.
The letter read in part ” The participants will be categorized under micro enterprise of the State agricultural program with the expectation that they will develop into small and medium enterprises in synergy with the Oyo State Agricultural Development Agency, OYSADA”
The House thereafter directed its Committees on Agriculture and Natural Resources as well as Public Account, Finance and Appropriation to perform thorough oversight functions in order to ensure full implementation of the Anchor Borrowers Program so as to achieve the desired results.
