Ondo State Governor Olusegun Mimiko has dispensed N25 million to 70 youthful agro-farmers and farming business people to empower them begin their own agricultural ventures.
Mimiko noted that it was in accordance with his administration’s plans to support
micro and small ventures, make wealth and increase food production in the state.
The credit is at a single interest rate of 2.5 per cent for a time of two years with a ban time of six months.
The Governor, who was represented by his Chief of Staff, Dr Kola Ademujimi, at the disbursement, said that the administration through Ondo State Micro Credit Agency (OSMA) has dispensed about N3 billion under various plans, focusing on market ladies, artisan gatherings and private ventures.
As indicated by him, over N1.5 billion was dispensed specifically by the state government and another N1.4 billion had been dispensed under the ODSG/CBN MSME credit scheme.
The Cocoa Revolution Project of the State government, he said had enhanced the quality and amount of cocoa production prompting the foundation of Sunshine Chocolate Factory which went for increasing the value of cocoa beans production in the State.
He, hence, charged the recipients to utilize the fund reasonably and for its purpose, saying that all fund given would be repayed in light of the fact that there is a monitoring team set up to guarantee repayment.
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