Adeleke Distributes Micro-Credit Cheques to Small Business Owners
The Osun State Governor, Senator Senator Ademola Adeleke, says his administration is committed to improving the lives of the people of Osun State.
Governor Adeleke stated this at distribution of 250 million naira in microcredit cheques to various beneficiaries across the state and the foundation-laying ceremony of the Osun Micro Credit Agency’s office complex at Oranmiyan New Town, behind the State Secretariat, Abeere, Osun State.
Represented by the Secretary to the State Government, Alhaji Teslim Igbalaye, the Governor explained that the 250 million naira funding boost for the Osun Micro Credit Agency includes a N200 million injection into the agency’s working capital, with 50 million naira specifically allocated for new applicants and beneficiaries.
He said the funding is part of the administration’s broader effort to empower small businesses and drive economic growth in the state.
He pledged to expedite the completion of the new office complex, assuring that the project would be finished sooner than initially projected.
Governor Adeleke urged the beneficiaries of the microcredit loans to use the funds prudently to grow their businesses and contribute to the state’s economic development.
“The loans come with favorable repayment terms, offering a 12-month tenor at an annual interest rate of 9%, making it one of the most affordable loan options in the country. The loans are revolving, ensuring that others can access credit as well”.
The Governor also encouraged individuals, cooperative groups, and small and medium enterprises (SMEs) to take advantage of the opportunities provided by the Osun Micro Credit Agency, assuring the people of Osun that his administration is committed to driving the state’s economic growth through these initiatives.
