Lack of funding hindering interest in farming – Ogun deputy gov

The Deputy Governor of Ogun State, Noimot Salako-Oyedele, has said the lack of access to finance has been discouraging farming in rural communities.

Salako-Oyedele explained that this can compel rural dwellers to abandon their agricultural activities to relocate to the urban area.

The deputy governor disclosed this recently when she hosted a delegation of the Chartered Institute of Bankers of Nigeria, led by its national president, Prof. Pius Olanrewaju, in her office in Abeokuta.

The deputy governor, who was in the company of the Commissioner for Industry, Trade and Investment, Mr Adebola Sofela, stated that the state’s giant strides in various sectors of the economy were geared towards putting in place a legacy, which would make the state the envy of others in Nigeria.

Salako-Oyedele said that Governor Dapo Abiodun-led government had in the last five years put in place policies that have made Ogun the investors preferred destination of choice.

She added that the springing up of new companies and industries in different parts of the state was a testament that the policies were working and had significantly improved the livelihood of its citizens

The deputy governor noted that the recent flag-off of harvest on 200 hectares of rice farmland near the flood plain of the Ogun River in the Magboro area and other interventions in the agricultural sector to improve food production and security.

“His Excellency is working on expanding the programme to about 2,000 hectares and we are going to bring in more young people into the agribusiness value chain. We will train and support them to start their agribusiness.

“This is one of the areas where we need the support of bankers and the banking industry, particularly for the smallholder farmers that are considered to be high risk. Access to finance is very important for their growth and survival. They are the backbone of the economy because they employ thousands of people, and improve food security and standard of living,” she said.

Admonishing the bankers to increase their penetration in the rural areas to reduce rural-urban migration, she claimed that the lack of access to financial services could discourage rural dwellers, thereby compelling them to abandon their agricultural activities.

Earlier, the President of CIBN, Prof. Deji Olanrewaju lauded the current administration in the state, saying its efforts in industrialisation and infrastructural development in the state were the foundations for continuous growth and prosperity.

“I want to give credit to this administration for what they are doing. I saw companies springing up at Ogere, Sagamu-Abeokuta road. An airport is also being built. It is not just an airport, it is an acropolis with an agricultural processing zone and a logistic hub. It is a preparation for the future,” Olanrewaju submitted.