The Ondo State Government has disbursed a sum of N166 million as soft loans to members of over 21 groups of traders, artisans and business owners.
The disbursement carried out through the Ondo State Micro- Credit Agency, targets different groups including Association of Poultry Farmers, Nigeria Union of Tailors, Fish Farmers Association, Ondo State Hairdresser and Cosmetologists Association among others.
Speaking at the disbursement of the cheques to the groups, the state governor, Mr Rotimi Akeredolu, who was represented by his wife, Mrs Betty Akeredolu, said the scheme, was tagged ‘Apalara Micro-Credit Scheme’.
She added that the scheme was put in place to make funds easily accessible to the people to boost their business and economic activities.
She said, “There is no gainsaying the fact that the challenges facing governments of most developing countries, Nigeria inclusive , is that of poverty reduction.
“Our government is fully conscious of this fact and has, therefore, not relented in putting in place various poverty reduction programmes including micro credit loans for the benefit of our people, all aimed at improving their socio- economic well-being to achieve sustainable livelihood.
“I will therefore urge the beneficiaries of this loan to be faithful to its terms and conditions to ensure sustainability of the scheme.”
In her welcome address, the Chairman of the State Micro- Credit Agency, Mrs Kosemani Kolawole, said apart from the traders and artisans, some unemployed youths had also benefitted from the scheme.
Kolawole said, “ We have identified some unemployed youths who have been considered, we want more youths to come out and benefit from this scheme, some that have benefitted have started something with the loans and they are doing well in their businesses.”
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