The Ogun State Agricultural and Multipurpose Credit Agency have started the disbursement of its 2021 loans to 500 successful applicants, eleven years after its last disbursement.
A statement signed by the Ministry of Industry, Trade and Investment said the Ogun State Governor, Prince Dapo Abiodun, flagged off the loan disbursement programme and presentation of cheques to applicants in Abeokuta recently.
Abiodun was quoted as saying that the disbursement was in line with the ISEYA mantra of his administration aimed at promoting social welfare and improving the well-being of the people.
The governor, who was represented by his Deputy Governor, Noimot Salako-Oyedele, said his administration revived the OSAMCA after nine years of being comatose to promote financial inclusiveness and help the micro, small and medium enterprises sub-sector thrive.
According to him, the loan disbursement, which is the first batch of the OSAMCA loan scheme, is available in cash and in the form of various equipment such as tractors, tricycles, motorcycles, deep freezers, generators, and mattresses, among others.
The Commissioner for Industry, Trade and Investment, Mrs Kikelomo Longe, said the loan disbursement was apt as it would help address the challenge of access to credit faced by farmers and agripreneurs.
She said the credit scheme would tackle the challenge of food security and soaring food prices.
The Chairman, Ogun State Agricultural and Multipurpose Credit Agency, Abayomi Hunye, said the agency had disbursed N850m to over 22,000 beneficiaries as at its last disbursement in the year 2010.
He said the agency would intensify its efforts in recovering loans yet to be repaid, while appealing to all loan beneficiaries, including the 500 beneficiaries of the 2021 loan programme, to repay their loans to enable others to benefit from the scheme.
