“Funds are now available and easy to access”, Ayo Omotoso tells South West farmers

Dr. Ayo Omotoso, a renowned agricultural consultant to the Federal Government of Nigeria has on Tuesday told livestock and crop farmers, agricultural product marketers and value chain practitioners, that there are numerous agricultural funding available for Nigerian farmers.

He made this known to farmers in Ibadan during a one day farmers’ sensitization seminar held at the ANCE building board room, Jericho, Ibadan on Tuesday, January 8, 2019, an event that had representative of fish farmers, sheep and goat farmers, crop farmers, agro-marketers, representative of Sterling Bank and many other agro practitioners.

In his words, Dr. Omotoso reiterated that the Federal Government of Nigeria is doing her best for Nigerian farmers; not just for Livestock and Crop farmers but also for Agricultural Value Chain practitioners. He said it is left for Smallholder farmers and MSME to brace up and engage these funding opportunities.

Interjecting his speech with his humorous thoughts, he stated clearly that the initiative of sensitizing South West farmers was born out of his passion for farmers’ development in Nigeria and that he has not demanded money from any persons or organization to implement the seminar. He added that the seminar is also not politically influenced as he is not a politician.

The South West Regional Head of Agribusiness for Sterling Bank, Mr. Wole Aina, while highlighting the modalities for accessing the funds reaffirms that the funds are available and many farmers have been accessing the funds even though most of the beneficiaries are Northern farmers.

Mr. Aina said there are three available loan facilities for Nigerian farmers:

1. Farmers can access up to 10 million naira individually without collateral under the Agri-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS). This fund is available for Smallholder farmers and MSME.

To be eligible applicants must have completed entrepreneurship training with an accredited Entrepreneurship Development Academy such as SMEDAN, CBN-EDC etc. And proceed with the application with a well written business plan. The interest for this loan is 5% per annum.

2. Farmers can access funds in group as a registered Cooperative or Association. The interest for this loan is just 9% per annum and the facility is easily accessible.

3. Large scale farmers can access up to a billion naira under the Mechanized Farmers Loan.

Mr. Aina concluded by reacting to questions from participants at the seminar.

Meanwhile, the one day sensitization seminar will also be replicated in locations such as Saki, Lekki, Abeokuta, Akure, Osogbo and Ado Ekiti daily for the rest of the week.