Home Business Governor Abiodun Seeks Assembly’s Nod to Access N1.5bn CBN Anchor Borrowers Credit...

Governor Abiodun Seeks Assembly’s Nod to Access N1.5bn CBN Anchor Borrowers Credit Facility

Dapo Abiodun

By: Kolawole Olayinka, Abeokuta

The Ogun State Governor, Prince Dapo Abiodun has sought the approval of the State House of Assembly to access a concessionary loan of N1.5bn only from the Central Bank of Nigeria (CBN) for the Anchor Borrowers’ Programme with a single digit interest rate.

The Speaker, Rt. Hon Olakunle Oluomo, who disclosed this while acknowledging the governor’s correspondence dated 6th of September, 2019 stated that the State Government indicated interest to participate in the CBN programme to access the fund provided for land clearing and other logistics requirements and support, having identified alongside with CBN, produce off takers (the Anchors) so the agropreneurs could fairly predict selling process even before harvest.

“This will greatly enhanced the wealth creation and employment generation efforts for our teeming youth, building capacity, reduce crimes and generally improve the living conditions of the participants.

The Funds that will be accessed under the scheme will be utilised by farmers, organised into clusters across the State with particular focus on Cassava, rice and maize production; consequently I write to seek the concurrence of the House in support of our request to participate in the program”, the governor stated.  

According to the Governor’s letter, the pursuit of the administration was aimed at ensuring sustainable economic development of the State and individual prosperity of the citizenry, agriculture and food security with emphasis on boosting production and optimization of the value chain.

Arising from the above, the Speaker therefore directed the Director General, Debt Management Office in the State, Economic Adviser to the Governor, Permanent Secretary and Directors in the State Ministry of Agriculture to appear before the lawmakers for further briefing on the basis of the proposed credit facility tomorrow, Tuesday, 17th September, 2019 at the Assembly’s Conference Room by 12 noon.

The Speaker also acknowledged the Governor’s letter proposing “a bill for a law to provide for the Establishment of the Ogun State Sports Trust Fund and connected purposes” and another seeking “to provide for the Establishment of the Ogun State Sports Commission and for connected purposes”.

Meanwhile, two bills scaled through first reading in the hallowed Chamber of the Assembly.  The bills including HB. No 023/OG/ 2019- The Magistrates’ Court (Amendment) Law, 2019 and HB. No 024/OG/ 2019- The Customary Courts (Amendment) Law, 2019 were read by the Ag.Clerk, Deji Adeyemo before the lawmakers.


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