Micro-Credit Agency Gives N3.2bn Loan To 1,366 Persons In Osun

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By Victor Adeoti

Whatapp NewsTelegram News

Osogbo –   The Osun Government on Wednesday said 1,366 persons in the state benefited from N3.2 billion soft loans under its economic empowerment programme in 2016.

Mr Semiu Okanlawon, Director of Bureau of Communications and Strategy in the Governor’s Office, stated this in a statement in Osogbo.

Okanlawon said that the loans were given directly to individuals, who belonged to registered associations or cooperatives societies, to ensure credibility as well as facilitate timely repayment.

He said that the loan was targeted at micro-enterprises operators, including traders, artisans and other entrepreneurs.

Okanlawon, who said that more people were expected to benefit in the loan this year, said that the government intended to expand the credit facilities.

“This government is poised to make sure that its small and medium scale businesses are developed roundly for the economic growth of the state.

“This was while last year alone, 1, 366 individuals benefitted from the interest-free micro credit of the government, which is aimed at empowering small and budding business enterprises.

“For the ease of doing business, government has made the loan interest-free. This will help the repayment of only the principal.

“Government has thus taken up the burden of paying the interest on the loan,” he said.

Okanlawon urged those who have benefited from the loan scheme to utilise it judiciously, explaining that it was instituted to develop small and medium scale businesses.

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