Governor Seyi Makinde’s fresh request to borrow a whopping sum of N2billion has been been approved by the Oyo State House of Assembly on Tuesday.
According to the governor’s request letter read by the House Speaker, Rt. Hon. Adebo Ogundoyin at Tuesday plenary session, Fidelity Bank is to grant the loan under the Anchor Borrowers’ Programme. The loan is being sought to develop Agricultural sector of the state, specifically cluster farming for maize, cassava, rice and tomatoes while about six thousand youth are expected to participate in the Anchor Borrowers Program.
The governor’s letter stated that participants would 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.
Hon. Ogundoyin while commending Engr. Makinde’s bid to improve state’s Agriculture sector, remarked that the Anchor Borrowers Program would encourage youth participation in farming and Agricultural related activities.
Reacting to the loan request, the house Deputy Speaker, Hon Muhammad Fadeyi and other lawmakers aligned with the Speaker’s position, they added that the Anchor Borrowers Program would reduce the high rate of unemployment in the state.
After granting the loan request, the house mandated its Committees on Agriculture and Natural Resources, Public Account as we as Finance and Appropriation to perform thorough oversight functions with a view to ensuring full implementation of the Anchor Borrowers Program in order to achieve desired results.