The Oyo State Government has unveiled plans to revamp the agricultural sector as well as implement the Anchor Borrowers’ Programme (ABP), through a proposed N2 billion loan.
According to Governor Seyi Makinde, the loan will be used to service the ABP for the promotion of youth inclusion in agriculture and will be accessed from the Central Bank of Nigeria (CBN), through Fidelity Bank.
The State House of Assembly recently approved the loan request which was made by the governor, on Tuesday.
Makinde in the letter hinted that the proposed loan facility would be used to fund cluster farming for maize, cassava, rice and tomatoes, while about 6,000 youths are expected to participate in the ABP.
The lawmakers agreed that the programme, if well implemented, would assist in engaging youths and would help in reducing the high level of unemployment.
Speaker, Adebo Ogundoyin said the programme was coming at the right time, adding that youths interested in agriculture did not have the wherewithal to go into full practice.
He, therefore, hailed Makinde’s resolve to improve the agriculture sector as well as encourage youths to participate in farming and agricultural related activities.
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