Africa Press-Nigeria:<\/p>\n
The Abeokuta Chamber of Commerce, Industry, Mines and Agriculture says many farmers in Ogun State could not access credit facilities from the Central Bank of Nigeria and other banks because they do not have Certificates of Occupancy.<\/p>\n
The chamber, however, urged the state government to devolve power to the local government areas so as to be able to issue Cs of O for agricultural purposes.<\/p>\n
The President of ABEOCCIMA, Mr Jare Oyesola, stated this after his inauguration, alongside other members of the chamber\u2019s executive at the 44th Annual General Meeting of the chamber in Abeokuta, the Ogun State capital.<\/p>\n
Oyesola lamented that efforts to get the loan facility from the CBN failed because most farmers did not have Cs of O to process the funds.<\/p>\n
He also attributed what he described as low agricultural production in the state to the current Land Use Act, which he said empowered only the state government to issue Cs of O to landowners.<\/p>\n
He said, \u201cThe challenge we have with agriculture is land. It is easier to get land in the North than in the South-West. What I\u2019m advocating is that just like the Land Use Decree of 1978 has stated, local governments should be able to give land for agricultural development.<\/p>\n
\u201cWe know one another in our local government areas, we know the cooperatives in our local government areas; allow local governments to be able to give us C of O.\u2019\u2019<\/p>\n
\u201cFrom my experience, the Central Bank Nigeria and international companies recognise a C of O issued by a local government and they will give farmers loan because it shows the evidence that they are authorised to till that land.<\/p>\n
\u201cThe CBN in Abeokuta says they don\u2019t disburse the funds given to them by the Federal Government because many farmers don\u2019t have Cs of O. If they have Cs of O, they will be able to access the funds for agricultural value chain development.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Africa Press-Nigeria: The Abeokuta Chamber of Commerce, Industry, Mines and Agriculture says many farmers in Ogun State could not access credit facilities from the Central Bank of Nigeria and other banks because they do not have Certificates of Occupancy. The chamber, however, urged the state government to devolve power to the local government areas so […]<\/p>\n","protected":false},"author":62,"featured_media":8947,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[503,1292],"class_list":["post-26772","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-cbn","tag-ogun-state"],"yoast_head":"\n