Ogun Anchor Borrowers loan’ll attract single digit interest

The Ogun State Governor, Prince Dapo Abiodun, on Monday said Ogun State Anchor Borrowers Programme (ABP) will provide inputs, service support and training required for farmers through a single digit loan and a guaranteed off-taker.

He spoke in Abeokuta while inaugurating the steering committee  to oversee the state’s ABP.

He said his administration was fully committed to providing an environment that would ensure a better life for the people of the state, adding that  under his leadership, the state would ensure the development of all sectors of the economy.

He said his government appreciates the immense potential of the agricultural sector.

According to him, the target of his administration was to attain self sufficiency in food by producing more, adding that providence had blessed the state with favourable climate, fertile soil that sits on over 16,000 square meters, of which 80 per cent is arable.

He said: “The target of our administration is to produce enough food to attain self sufficiency in food security in the short term and over the long term, produce enough food for other states and for export. “Providence have blessed us with favorable climate and fertile soil for agriculture, we sit on  a land mass that is over 16,000 sqm, 80 per cent of which is arable, that is we have over 12,800 sqm of arable land.”

He said government and the people should come together to chart a way forward for the development of agriculture in the state, adding that it was disheartening to note that the state had never accessed the Central Bank of Nigeria (CBN) ABP.

“While we have seen the success of the anchor borrowers scheme in other states, it is disheartening that Ogun State has never accessed the CBN ABP through the public window,” he said.

He said the inauguration of the committee was a practical demonstration of his administration’s commitment to the development of the agricultural sector, adding that the programme would be targeting over 40,000 farmers, of which 10,000 would be attended to in the first instance.

“In this programme, we are targeting the empowerment of over 40,000 farmers; we are going to be starting in the first instance with an initial 10,000 farmers to which we are going to allocate 10,000 hectares of land,” he said.