In a renewed effort to bolster food production and ensure agricultural sustainability, the Oyo State Government has approved additional funding for its single-digit agricultural loan schemes targeted at farmers across the state.
The announcement was made on Friday by Taofeek Akeugbagold, Chairman of the Oyo State Agricultural Credit Corporation, during an interactive session with farmers at the corporation’s headquarters in Ibadan.
According to Akeugbagold, this step indicates the state’s ongoing commitment to empowering local farmers and strengthening food systems.
In a statement issued by the Commissioner for Information and Orientation, Dotun Oyelade, it was stated that the additional funds are aimed at ensuring farmers in Oyo have easier access to affordable credit that can support various agricultural ventures, including crop cultivation, livestock production, and agro-processing.
“With this approval, we are scaling up our efforts to provide financial support that is accessible, fair, and strategically designed to improve the livelihoods of our farmers,” Akeugbagold said. “This is part of Governor Seyi Makinde’s broader food security agenda for the state.”
The single-digit interest loan scheme is seen as a practical solution to one of the most persistent challenges facing Nigerian farmers—access to affordable credit.
