Mimiko disburses N23.9m loans to farmers in Ondo

Governor Olusegun Mimiko

Governor Olusegun Mimiko of Ondo State has disbursed N23.9 million to 70 young agro-farmers and agricultural entrepreneurs as support to start their own agricultural ventures. The loans ranged from N250, 000 to N500, 000 per each beneficiary for a period of two years, The beneficiaries’ original degree certificates and National Youth Service Corps (NYSC) discharge certificates were used as collateral.

The disbursement coincided with marking of 2016 World Food Day titled: “Climate is Changing, Food and Agriculture Must too.” Mimiko, who was represented by his Chief of Staff, Dr. Kola Ademujimi, during the disbursement of the agricultural credit facility in Akure, Ondo state, said the loan was at a single interest rate of 2.5 per cent and for a period of two years with a moratorium period of six months.

He explained that the gesture was in line with his administration’s resolve to support micro and small businesses in the state. According to him, “This administration through Ondo State Micro Credit Agency (OSMA) has disbursed about N3 billion under different schemes, targeting market women, artisan groups and small businesses.

“Over N1.5 billion was disbursed directly by the state government and another N1.4 billion had been disbursed under the ODSG/CBN MSME loan scheme,” he added. Mimiko charged the beneficiaries to use the funds judiciously and for its purpose, saying that all funds given would be repaid because there was monitoring team already put in place to ensure such repayment.

The governor urged those that could not benefit from the disbursement not to be discouraged, assuring them that another batch of disbursement would be carried out soon. He said that the government would continue its roles by providing necessary enabling environment and support for farmers to operate. The Chairman of WECA, Mrs Bolanle Olafunmiloye, said the loan was to support small holder farmers, as they were the keys to food security.

He said that it was another milestone of continuous mission to engage the youth productivity and transform them into wealth creators and employers of labour using the agricultural sector as a vehicle. She added that the agency has a mandate to develop a new crop of young professional farmers and entrepreneurs that would use agriculture as a tool for wealth creation in the state. Her words: “The agency established four agro business cities in three senatorial districts in the state and set up agricultural processing centres in Akure.

Since inception, over 2,500 youths have benefitted from this programme.” According to her, 630 graduates have also benefitted from Pro farmers and Agropreneurs Sustainable Scheme (PASS) since its inauguration in 2014 by Governor Mimiko. She noted that the beneficiaries, who were trained for 12-18 months were given between N10,000- N30,000 and profit from sales of agricultural products.

The chairman stated that the agency has variety of products, which are specially produced and has WECA logo such as: ‘eja WECA’, ‘Adiye WECA’, ‘Agbado WECA’; ‘Ege WECA’, Eyin WECA’ and WECA beef from the programme, saying other products would soon be added. Olafunmiloye said that the state through WECA has the best government- driven strategy and programmes for youths in agriculture and agri-business in the country.

Two of the beneficiaries, Kayode Oni, a graduate of Sociology and Anthropology 2011 at Obafemi Awolowo, University, Ile –Ife who got N350,000 and Mrs Grace Oni, a graduate of Federal Polytechnic, Ado Ekiti who got N250,000, said it was a rare privilege. They added the fund would enable them start their poultry business and maize plantations respectively.