By Faridat Salifu
The Oyo State Government has approved additional funding under its agricultural loan scheme to support sustainable farming across the state.
This initiative, administered through the Agricultural Credit Corporation of Oyo State (ACCOS), offers loans at single-digit administrative charges to boost productivity and strengthen food security.
Chairman of the Corporation, Taofeek Akeugbagold, disclosed the development during a meeting with farmers at the corporation’s Ibadan office.
He said the new funding aims to provide affordable financing for crop cultivation, livestock production, and agro-processing activities that align with climate-resilient agriculture goals.
According to Akeugbagold, the government is expanding access to reach more grassroots farmers in all 33 local government areas of the state.
He urged beneficiaries of the previous loan phase to repay promptly to keep the revolving fund active and ensure fairness in future disbursements.
The chairman stressed that loan repayment is vital to the sustainability of the scheme and that defaulters may lose access to future support.
He reiterated that the scheme is designed to reduce rural poverty, enhance food systems, and promote inclusive green growth in the state.
Akeugbagold assured that the disbursement process remains transparent and free from political interference.
A local farmer, Adeboje Samson from Atisbo LGA, acknowledged the impact of the loan, stating that it increased his yields and improved his household’s stability.
The expanded loan programme forms part of Governor Seyi Makinde’s broader agenda to create jobs and ensure food system resilience in Oyo State.
