Abuja - The Kwara State government has disbursed
more than N16 million to cooperatives societies in the state to expand their
The Technical Adviser to the governor on Small and Medium
Enterprises Development, Olusegun Soewu, confirmed the disbursement.
Governor Abdulfatah Ahmed's adviser noted that the state
government had injected a cumulative of N1,597 billion into the scheme adding
that a total of 1, 848 cooperative societies had benefited from the scheme.
The disbursement is done through selected micro-finance
banks that are based within the operating environment of the target
“The participating micro-finance banks are referred to as
partnering banks,” Soewu said.
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The target beneficiaries of the scheme include men and women
who have existing businesses, youth with workable business ideas or requisite
skills, enterprising women in the rural areas and cooperative societies with
traceable business records.
Some 53 associations under the aegis of Artisan Congress of
Kwara State had benefited from the scheme, adding that about 150 taxis, 25
buses, and 193 motorcycles had been given out to beneficiaries across
Soewu also added that over 160 farmers’ associations across
the state, with no less than five farmers each, had also benefited from the
micro-credit funding under the Off Taker Demand Driven Agriculture Scheme.
He assured government would continue to promote the informal
sector of the economy by providing credit funding for small enterprises and
cooperative societies to stimulate commerce, trade and economy of the state.
- CAJ News