Funding Shortages Hinder Farming Interest, Says Ogun Deputy Gov.
The Deputy Governor of Ogun State, Noimot Salako-Oyedele, recently highlighted a significant challenge facing rural communities: the lack of access to finance. This financial barrier has been discouraging farming activities, prompting many rural dwellers to abandon their agricultural pursuits in favor of relocating to urban areas in search of better opportunities.
During a meeting with a delegation from the Chartered Institute of Bankers of Nigeria, led by its national president, Prof. Pius Olanrewaju, Salako-Oyedele elaborated on the impact of these financial constraints. She emphasized that without adequate funding, the sustainability of farming in these communities is at risk, which can lead to increased urban migration.
Accompanied by the Commissioner for Industry, Trade and Investment, Mr. Adebola Sofela, the deputy governor expressed her belief that Ogun State has made significant progress in various sectors of the economy. These advancements are part of a broader strategy aimed at establishing a legacy that would make Ogun an exemplar for other states in Nigeria.
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Salako-Oyedele noted that the government led by Governor Dapo Abiodun has implemented policies over the past five years that have transformed Ogun into a favored destination for investors. The emergence of new companies and industries across the state serves as a testament to the effectiveness of these policies, which have notably enhanced the livelihoods of its citizens.
In addition to economic growth, the deputy governor pointed to recent agricultural initiatives, including the launch of a harvest on 200 hectares of rice farmland near the Ogun River in the Magboro area. These efforts are part of a larger plan to boost food production and security within the state.
Looking ahead, Salako-Oyedele mentioned that the government is working to expand the rice farming program to cover approximately 2,000 hectares. This initiative aims to engage more young individuals in the agribusiness value chain, providing them with training and support to kickstart their agricultural ventures.
Finally, she called for the banking industry’s support, particularly for smallholder farmers who are often viewed as high-risk borrowers. Access to finance is crucial for empowering these farmers and ensuring the sustainability of agriculture in Ogun State, thereby mitigating the trend of rural-to-urban migration.
