OGUN ASSEMBLY APPROVES N5B AGRIC LOAN.

Ogun Assembly Approves N5BN CBN Credit Facility For Farmers
August 20, 2016 in Ogun News Leave a comment

The Ogun State House of Assembly has approved the state government’s request to access N5bn Commercial Agricultural Credit Scheme facility from the   Central Bank of Nigeria.
The approval followed a letter from the State Governor, Senator Ibikunle Amosun dated August 2, 2016, titled: “Request for approval to access N5bn credit facility under the Central Bank of Nigeria (CBN) Commercial Agricultural Credit Scheme (CACS)”, which was read at the plenary by the Speaker, Rt. Hon. Suraju Ishola Adekunbi.
The letter partly reads, “the State Government wishes to take advantage of the window availed to it by the Central Bank of Nigeria (CBN) in collaboration with the Federal Ministry of Agriculture for promoting commercial agricultural enterprises in the State by utilizing part of the funds approved in the 2016 approved Estimates on the Central Bank of Nigeria (CBN) Commercial Credit Scheme (CACS) as approved by the State Executive Council, in its resolution of 16th May, 2016”,
The House at plenary granted the approval through a motion for the approval of the fund, moved by the Majority Leader, Hon. Adeyinka Mafe, seconded by Hon. Bowale Solaja, and supported by the whole house through a voice vote after the Deputy Speaker had called for the suspension of order 17 (2) to give preference to the governor’s correspondence due to the importance of the scheme to farmers and the development of agriculture in the state.
According to the Deputy Speaker, “I just want to move that in view of the peculiarity of the request of the Governor and as we in the House of Assembly have done our own work thoroughly on the advantage of the facility to farmers in the State, I want to move sir, that you suspend order 17 (2), so that the letter can be given immediate attention”.
The Lawmakers said the move became imperative to support government’s desire to enhance agricultural enterprise in the state for massive food production and earn more foreign exchange.

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