ODSG disburses N550m Apalara loan
By Fatima Muraina
Ondo State Government has commenced the disbursement of its N550million naira micro credit loan.
The sum of N57million was on Monday disbursed as soft loans to traders of various traders’ associations and entrepreneurial groups in the state.
The wife of the State Governor, Arabinrin Betty Anyanwu-Akeredolu, while presenting cheques to the beneficiaries described the credit facility as a veritable tool which powers economic growth and enhances poverty reduction.
Arabinrin Akeredolu noted that though the people of the State are hardworking and highly productive, but noted that the major handicap to fully realize their potentials is how to source for funds to finance their various developmental and trade projects.
She commended the Akeredolu-led administration for prioritizing provision of soft loan to productive and enterprising people in the state through the Agency and other credit facilities windows of the state government with a view to making the people self reliant.
The First Lady enjoined the beneficiaries to judiciously utilize the loans for the purpose for which it was granted and ensure prompt repayment to allow others to benefit from the scheme as well as avail themselves a repeat of the loan which is usually double of the initial amount received.
She called on the people of the state to be abreast of the various credit windows created by the present administration and avail themselves of the opportunities to enrich their lives through relevant and appropriate job creation for sustainable livelihood.
Earlier in her welcome address, the Chairman of the State Micro-Credit Agency, Mrs Kosemani Kolawole reaffirmed the commitment of the agency to work with relevant stakeholders to move the state into an enviable height by putting in place effective and efficient credit delivery system that would be beneficial to all.
Market Traders, groups and associations that benefitted from the loan include Ondo State Sunshine Rice Farmers Association, Traditional Birth Attendant Group, Missionary Birth Attendant Group and Igbo (Akure) Cooperative Society.
Others are Ondo State Artisan Group, Nigerian Union of Tailors, Asegun Dynamic Market Front and Concerned Organization of Small Scale Enterprises of Nigeria among others.
A beneficiary and state Chairman of the Agbebi, Chief Mrs Omonileake Fasaki applauded the state government on the initiative.