Minister facilitates establishment of nine cottage industries in Oyo

Chief Olajumoke Akinjide, the Minister of State for the Federal Capital Territory, has secured approval from the Federal Government for nine cooperative groups to establish cottage factories in Oyo State.
The beneficiaries collected the approval letters on Monday at Ile-Aperin in Ibadan, the state capital.
The News Agency of Nigeria reports that Akinjide effected the initial deposit expected to be paid by the beneficiaries before approval.
The groups are to establish palm kernel and cassava factories under the Ministry of Agriculture and Rural Development scheme.
The beneficiaries are Oke-Ogun Farmers’ Association, Iseyin; Special Programme for food Security, Iresaadu; Anuaoluwapo CICU Limited, Iganna; Palm Tree Growers, Oluyole; and Haardawab Farmers’ Multipurpose Cooperative, Akinyele.
Others are Oyo State Women Farmers’ Association; Agbelere Farmers’ Cooperative, Ona-Ara; Macklius Nigeria Limited, Talontan, Akinyele; and Worldnet Multipurpose Limited, Owode, Oyo.
Akinjide, in her message at the occasion, urged the beneficiaries to make judicious use of the opportunity, adding that it was part of the Federal Government’s efforts at transforming the agricultural sector.
She said: "Such opportunities would enhance the agricultural sector thereby reducing the much dependence of the country on crude oil.
"The scheme offered each group the approval for the sum of N10,000,000 each and the Federal Government bears half of the sum.
"Each group is then expected to pay 10 per cent of the remaining half, which is N500,000 as an initial deposit before the approval letter.
"I have paid the required 10 per cent deposit of N4,500,000, the sum total of the initial 10 per cent deposit expected from the nine beneficiaries in the state.
"The remaining amount is to be paid in instalments, spread across three to four years.
"The gesture of today is for the people of Oyo and it has been distributed without political consideration."
Akinjide, who was represented by her Media Assistant, Alhaji Isiaka Kehinde, said the effort of the Federal Government was to unlock the full potentials of agriculture in the country.
She said this effort in making the nation an agricultural, industrialised economy, had begun to yield appreciable dividends.
Alhaji Asimiyu Alarape, a former Speaker of the Oyo State House of Assembly, commended the Federal Government and the minister for the gesture.
Alarape listed some of Akinjide’s achievements to include distribution of fertiliser to farmers and provision soft loans, tractors and empowerment materials.
Also speaking, Alhaji Kunmi Mustapha, a factional Chairman of the Peoples Democratic Party in Oyo State, commended the minister for her efforts at bringing democratic dividends to the people in the state.
Mustapha said that Akinjide had done a lot in developing the state and its people.
He urged the people of the state to always make judicious use of all the opportunities given to them, adding that the minister had promised to continue in the pursuit of such gestures.