By Fatima Muraina

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Ondo State government has declared its readiness to stand as collateral for farmers to get loan from the Bank of Agriculture for agricultural activities towards attaining food sufficiency and sustainability.
The Permanent Secretary of the Ondo State Ministry of Agriculture, Mr. Sunday Akintomide made the disclosure while speaking at a Lecture/Award ceremony organised by a Magazine held at the weekend.
Akintomide who pleaded with the Bank of Agriculture, said fund has been a major problem confronting farmers for massive production to make the state a self sustaining one.
Describing agriculture as the backbone of any economy, Akintomide observed, that it is on that reason that government is supporting farmers to develop the sector.
He Identified other challenges to include; aging farmers and the lands as well as the federal government’s neglect of the sector.
Reacting, the Branch Manager of Bank of Agriculture, Mrs Maryanne Obada said the bank stopped giving out loans to farmers because people have refused to pay back loans given to them which she said ought to have been a revolving one.
She said between 2017- 2018, the sum of N2.6b was disbursed where over N159m got hanged outside because people were not ready to repay their loans.
According to her, the bank has packaged over N5b in 2019, but had a directive from the Central Bank of Nigeria to stop further disbursement until substantial amount is recovered from the loan granted so it could be recycled effectively.