Speaking during the sensitization forum, the resource person from Obafemi Awolowo University, Dr. Isaac Aberejo emphasized the requirements needed in order to apply for the loan.
Flash back to 2002 , the central bank of Nigeria tasked commercial banks to remit certain percentage of money to serve as a support scheme for agricultural manufacturers, miners, crude oil experts, farmers and any business driven person to help them grow their business.
Dr. Aberejo said basic documents like the bio-data of the prospective entrepreneur, a farm filled with bank details, certificate that shows they attended the sensitization program and an evidential document that indicates that their enterprise is registered with the federal; government.
Dr. Aberejo further said that such individual must have a tax identification number which is an evidence of civic participation and most importantly, have a guarantor that is prominent in the society, either as a civil servant, community head or religious leader.
Another resource person also from Obafemi Awolowo University Ile-Ife, Dr. Temitope Jegede urged participants to see the need to focus on gathering assets, rather than liabilities with loans given to them.
He said entrepreneurs should not get loan for liabilities or expenses on personal note, rather, they should have a sound business plan and use the loan to aid their business activities.
Earlier in her address, the Director General of OSBC, Mrs Adejumoke Akinjiola admonished participants to be committed in skill acquisition and learning, as well as other agricultural activities.
She emphasized that participants need to focus more on creating sources of income, rather than pursuing money itself.