Chairman of the Agricultural Credit Corporation of Oyo State (ACCOS), Sheik Taofeek Azeez Akeugbagold, has announced that in addition to the 50 per cent tractorisation policy introduced by the current administration, farmers in Oyo State can now access credit and agricultural loans from the corporation to boost productivity.
Speaking at a press conference held at the Ministry of Agriculture and Rural Development, Sheik Akeugbagold praised Governor Seyi Makinde’s genuine commitment to agricultural development and the welfare of the state’s farming population.
“I must commend Governor Makinde for taking a sincere and sustained interest in the wellbeing of farmers and the growth of agriculture in our state,” he said.
Also speaking at the event, the Commissioner for Agriculture and Rural Development, Barr. Olasunkanmi Olaleye, revealed that the state government has commenced the second phase of the 50 per cent land ploughing subsidy, also known as the Tractorisation Policy.
He noted that Oyo State’s strong support for farmers has yielded remarkable results, stating: “The National Bureau of Statistics recently reported that Oyo State recorded one of the lowest food inflation rates in the country, thanks to the interventions of this administration.”
Olaleye further disclosed that Oyo is fast becoming one of Nigeria’s major food baskets, citing the movement of over 9,569 tonnes of cassava—equivalent to about 300 trailers—from Ibarapa zone alone to neighbouring states between December 2024 and March 2025.
He applauded Governor Makinde for approving the continuation of the tractorisation initiative, first launched in 2024, noting that the policy reflects a clear commitment to sustainable agricultural growth.
“In 2024 alone, we were able to reach about 1,487 farmers directly, with approximately 6,090 acres of farmland ploughed under this programme,” Olaleye added.
