Ogun State Agricultural and Multi-Purpose Credit Agency (OSAMCA)

The agricultural credit policy in Ogun state started in 1976 when the assets and liabilities of the defunct Western Nigerian Agricultural Credit Corporation were shared among the then newly created State of Oyo, Ondo and Ogun. Consequently, the Ogun State Agricultural Credit Corporation became established in 1977 to pro-vide the much needed credit to farmers resident in the State. To ensure efficiency in operation, the Corporation became merged and de-merged several times un-der different Government dispensation to form the Ogun State Agricultural Credit Corporation (ACCC) at Igbogila in 1983.This later became part of a Department in the State Agro-Services Corporation in 1984. In 1986, the credit scheme became moribund and was discontinued. This led to a significant restructuring, the consequence of which brought about two major strides in public financing as

• (i) Government expenditure on the State Agricultural Development Programmes and projects as well as other related services. Notable among these are the subventions to the Ogun State Agricultural Development programmes (OGADEP) as well as the co-sponsorship of the National Fadama Development Project II (NFDPII) with the World Bank;
• (ii) establishment of the public credit agency known as the Ogun State Agricultural Credit Agency (OSACA); with direct and indirect implications for increased agricultural sector financing in the State.

The Ogun State Agricultural Credit Agency (OSACA); was established in September 2003 as a public sector institutionalized short-term line-of –credit financing outfit to provide financial services for rural development, poverty alleviation and employment generation through the small-scale farmers in the State. In order to broaden the scope and activities of the Agency, make for efficiency and proper co-ordination in credit delivery, the Agency was eventually transformed to the Ogun State Agricultural and Multi-purpose Credit Agency (OSAMCA) in March 2004; to provide micro-credit to both agricultural and non-agricultural small and medium scale businesses in the State. The institution is also charged with the empowerment of Grandaunts in agricultural and non-agricultural training under the Ogun State Employment Generation Programme (OGEGEP).