NIGERIA (Osun)-The Government of the State of Osun has disbursed N753 million in loans to farmers in the last one year ago.

This was said by the state’s Commissioner for Commerce, Industries, Co-operatives and Empowerment, Mr. Ismail Alagbada in Osogbo on Wednesday while defending the 2014 budget of his ministry before the state House Committee on Finance and Appropriation.

According to Alagbada, the Bank of Industry was also collaborating with the state government in giving loans to the farmers.

He said 77 farmers’ co-operative societies had benefited from the loans under the Quick Impact Intervention Programme of the state government.

He said also that the ministry had so far been able to recover N88 million out of the amount disbursed.

The commissioner however said the ministry was working assiduously to recover the outstanding N665 million before granting further loans to farmers from the 2014 budget.