Akeredolu doles out N550m to market women, artisans in Ondo

Governor of Ondo State, Mr. Rotimi Akeredolu (SAN), on Monday, distributed N550 million loan to market women, various entrepreneurial groups and cooperatives societies as a way of tackling poverty in the state.

Governor Akeredolu gave out the loans in Akure during the launch of the Apalara Micro-Credit Loan Scheme in a bid to empower various groups and associations in the state.

Akeredolu said: “The scheme is to inculcate in our people, the spirit to properly utilize credit facilities obtained from the state micro-credit agency, particularly on the need for them to appreciate the fact that funds disbursed should not be taken as their own share of the national cake.

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“As a fallout of our determination to lift the entire people of Ondo State out of the current poverty in the land, a total sum of N550 million has been approved by our administration to be disbursed to various groups and individuals at a single digit interest rate.

“Of the total sum, market women are to get N357.5m (65%), while men will get N192.5 million (35%).”