The Osun State chapter of All Farmers Association of Nigeria (AFAN) says it has established cooperatives to cater for the financial needs of farmers in the state.

The state Chairman of the association, Mr Kayode Afolabi, who made the disclosure in Osogbo while speaking to journalists, said that the creation of the cooperative became necessary to assist farmers who could not get access to bank loans to run their operations.

“Many farmers do not have access to bank loans to operate their businesses because they cannot meet the requirements of banks. AFAN in Osun has, however, taken it upon itself to provide help to farmers under its canopy through the establishment of a cooperative that will give loans to farmers,” he explained.

Mr. Afolabi buttressed that the cooperative, with its active intervention, had provided some members the opportunity to boost agriculture in the state. The chairman added that the state government had also promised to support farmers with financial assistance, but expressed regret that the current economic recession was delaying the disbursement.

According to PM News, Afolabi expressed worry over extreme conditions stipulated by banks which made it difficult for farmers to access loans for agriculture. The chairman also blamed farmers who defaulted in paying back loans, noting that it had affected other farmers’ access to bank loans.