By Fatima Muraina
Farmers in Ondo State have been encouraged to take advantage of the N200 billion funding opportunities for food processing available in the state.
This call came as the former Governor of Ondo State, Dr Olusegun Mimiko, was honoured as the Life Patron of the Ondo State Agricultural Commodities Association (OSACA) during the recently concluded International Agricultural Show and Food Fair (OSIAFFA) 2024, held in Akure.
Delivering her goodwill message, the Senior Special Assistant to the President on Food Security, Barrister Yejide Ogundipe, announced that the N200 billion fund would be disbursed under the FGN MSME Intervention Fund and the FGN Manufacturing Sector Fund through the Bank of Industry.
The funds are categorised into three sectors: food services, transportation operators, and the industrialisation drive, all of which are accessible to food processors.
“The CBN/NIRSAL has been recapitalised and fully commercialised to deliver the food security mandate of President Bola Ahmed Tinubu’s Renewed Hope Agenda. Farmers can access financing from NIRSAL through our commercial banks,” she stated.
She added, “Funding has remained below double digits, and risk management has improved tremendously.”
According to Ogundipe, the required collateral, whether from individuals, cooperatives, or associations, can be facilitated for food processing. She further noted that the Nigerian Agricultural Insurance Corporation (NAIC) has been empowered to cover all risks and mitigate potential losses.
Ogundipe emphasised the importance of collaborative efforts involving the government, private sector, and international partners to overcome barriers and maximise the potential of the food processing industry.
She also urged farmers to develop impactful policies to align with the national agricultural development agenda.
Dr Olusegun Mimiko, who was present at the event, called for increased investment in agriculture, describing it as a key driver of the nation’s economy.
Speaking after being officially decorated as OSACA’s Life Patron during the OSIAFFA 2024 celebration, held at the International Culture and Events Centre (The Dome), Dr Mimiko said agriculture remains one of the most credible sectors in Nigeria.
He noted that agriculture not only contributes significantly to the country’s GDP but also serves as the largest employer of labour.
Reflecting on changes in industrialisation over the years, Mimiko observed, “Forty years ago, one dollar could create over 200 jobs. Today, it only creates 17 jobs.”
Expressing concern over the country’s low agricultural export rate of just 2%, he called for increased investment in the sector. “A nation that cannot feed itself cannot claim to be independent,” he stated.
Dr Mimiko commended OSACA for its efforts in adding value to farmers and thanked the government for its support. He also encouraged farmers to take pride in their profession.
The event also featured the decoration of Ondo State Governor, Hon Lucky Orimisan Ayedatiwa, as the Grand Patron of OSACA. Other highlights included school cooking competitions, ambassadorial awards for distinguished farmers, and more.