Governor Seyi Makinde of Oyo State has gotten the approval of the State House of Assembly to borrow two billion naira for Anchor Borrowers’ Programme.
This is in respect to a letter earlier sent to the Assembly of by Governor Makinde and read at the floor of the house by Rt. Hon. Adebo Ogundoyin.
According to Makinde, the two billion naira loan will be collected from Fidelity Bank under the Anchor Borrowers’ Programme (ABP).
As gathered by Insideoyo.com, the Anchor Borrowers’ Programme is an initiative of the Central Bank of Nigeria (CBN) for the Agricultural sector.
The loan shall be targeted at small scale farmers to engaged in the production of identified commodities which includes Maize, Rice and some other food crops.
Reacting before the approval of the loan facility, the Deputy Speaker of the State Assembly, Hon. Abiodun Fadeyi said the Anchor Borrowers Programme will help small holders farmer in the state and enhance food security.