Ondo grants N2bn loan to oil palm farmers

Ondo State Governor Rotimi Akeredolu says his government has given a total of N2 billion loan to oil palm farmers in the state.

Akeredolu was speaking at the presentation of awards to some eminent individuals and organisations for their contributions to the growth and development of agriculture in the state held at the Cocoa Conference Hall of the Governor’s office, Alagbaka, Akure.

In a statement by Richard Olatunde, his chief press secretary, the governor said the loan which was given to the farmers via the RED GOLD Initiative was to ensure the state becomes the largest producer of palm oil in the county.

According to him, the state has allocated 70,000 hectares of land to investors for oil palm cultivation and cocoa production.

He said the move will launch Ondo State into the world map of palm oil production, adding that he is proud that his administration’s intervention has always been all-rounder and yielding the desired results.

According to the statement, Governor Akeredolu also announced his approval for the recruitment of additional 350 personnel into the state Amotekun Corps to further strengthen and boost its operations.

“He explained that Amotekun stations will be built in the farms areas to ensure that the farmers are protected, pointing out that the abundance natural resources in the state must translate to economic prosperity.

“The governor added that his administration is completely revolutionising Agriculture so as to make it more attractive to the young ones,” the statement added.