Osun, First Bank, others partner

In line with its plan to increase food production in the state, the Osun State Government has inaugurated a N1bn Commercial Agricultural Credit Loan scheme for farmers in the state.Under the scheme, the state government would be partnering First Bank of Nigeria Plc and Tuns Farm Nigeria Limited. The government said it had also granted a N500m loan to farmers in the state.Speaking during the inauguration of the scheme, the state governor, Mr. Rauf Aregbesola, said the scheme would create life sustaining jobs for the people and eliminate poverty in the state.He commended Tuns Farm Nigeria Limited, the Scheme Manager, for its planned contribution of N39m in form of 300,000 day-old chicks, which would be made available to farmers at the rate of N100,000 per month.Aregbesola added that the money would be applied in a way that N245m would be available for feeds production; N27.02m for procurement of vaccines, drugs and birds raising, while N67.4m would be set aside for logistic services.The governor said that his administration would not be caught unawares by the impending danger in the area of food production.He said, The Federal Government, we were told, used N600bn annually to import food into the country. We have to be proactive; hence, the decision by the government to distribute loans to farmers towards increasing food production in our state.
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