Economy

Osun Govt. Begins Disbursement Of Soft Loans To Residents

Government of Osun State has commenced the disbursement of Six Hundred and Thirty-Six Million, One Hundred and Ninety-Five Thousand Naira (N636.195,000.00) as soft loans to over two thousand citizens and residents of the State.

The initiative, which was actualized through collaboration with the Central Bank of Nigeria-supported Micro, Small and Medium Enterprises Development, was aimed at expanding the scope of businesses, trades, investments stimulating the economy and reducing the scourge of unemployment in the State.

The soft loans were disbursed through Osun Micro Credit Agency as part of efforts to ensure proper coordination.

Speaking at the flag-off ceremony held at Nelson Mandela Freedom Park, Osogbo, Governor Adegboyega Oyetola said the gesture was in furtherance of the Administration’s resolve to build a virile and healthy economy.

He said the initiative stemmed from the Administration’s Development Agenda that is focused on revitalising the economy for improved performance, noting that by their enormous productivity and capacity for value and job-creation, MSMEs constitute a critical part of government’s diversification agenda.

The Governor announced that over Six Billion and Five Hundred Million Naira (N6.5 billion) of the Central Bank of Nigeria and Osun intervention funds had been disbursed to 31,888 beneficiaries in different categories.

He said the State had invested hugely in the economy as evidenced in the successes recorded so far.

In his remarks, the Commissioner for Commerce, Industry, Cooperative and Empowerment, Dr. Bode Olaonipekun, lauded Governor Oyetola for his commitment to the growth and development of business.

Also speaking, the acting General Manager, Osun Micro Credit Agency, Mr. Sanya Olopade urged the beneficiaries to use the money judiciously and apply it for the purpose it was meant for, just as he appealed to them to refund the loan within the record time so as to give others same opportunity.

In their separate remarks, some of the beneficiaries praised the government for meeting them at the points of needs.

Mrs. Oduyemi Mary, Alhaji Azeez Rasak, Alhaji Afolabi Yusuf Adekunle, Mrs. Oladoye Olayemi Kehinde, Engr. Salami Rasheed and Mrs. Motunrayo Abiola promised to use the funds judiciously.

Adenitan Akinola

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