Osun Budget: Corporation Proposes N500m Loan For Farmers

Date Posted: January 14, 2015 at 7:15 am

Rauf-AregbesolaOsun State Agricultural Development Corporation (OSSADEC) on Tuesday proposed N500 million loans for agricultural development in the state in 2015.

Mr Kayode Olanipekun, the General Manager, while presenting the budget of the Agency to the state House of Assembly, said the agency was ready to partner with Bank of Agriculture on its proposal.

Olanipekun, who said the loan was meant to be disbursed to persons, including farmers, corporate and incorporate bodies.

“This programme will facilitate the provision of government support services which in turn will yield revenue through pay back by the beneficiaries.

“We intend to invest in our beneficiaries who in turn are expected to invest in agricultural enterprises.

“Proceeds from the produce of these investments will improve and boost the economy of the state and nation at large.

“We have come up with the proposal because we are aware that the budget of this year is revenue driven,” he said.

He added that the agency was ready to generate about N10 million on sale of various agricultural implements.

the News Agency of Nigeria (NAN) reports that the Assembly on Tuesday continued hearing budget presentations of ministries, agencies and parastatals.


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