The Ogun State Government said it had disbursed the sum of N50 million to the Ijebu Development Initiative on Poverty Reduction (IDIPR), Eriwe, for the development of the agriculture and fish sub-sectors in the state.
According to a statement, the Commissioner for Agriculture and Food Security, Bolu Owotomo, who presented the cheque to the IDIPR representatives at the Ministry of Agriculture, Oke-Mosan, Abeokuta, disclosed that the fund was disbursed for the repayment of 18 months tenure, inclusive of a 6-month moratorium period at a single interest rate of nine per cent per annum.
He added, “As of today, the Ogun State Government has disbursed a total sum of N110 million to the organisation since 2012 in different batches, which the body has repaid as and when due”.
While highlighting the achievements of the present administration, he noted that the Dapo Abiodun-led government had successfully implemented reforms of agricultural land allocation to investors to enable them access to agricultural land and other incentives.
He listed such incentives as the distribution of planting materials to 150 women cassava farmers in collaboration with the National Agricultural Land Development Authority, the capacity building of 12,000 farmers on sustainable agriculture under the Value Chain Development programme and constructive partnerships with institutions and agricultural investors, amongst others.