Osun State Governor, Senator Ademola Adeleke has released N1 billion to the state’s Cooperative and Micro-Credit Agency to serve as revolving loans for the small and medium scale enterprises.
Speaking at the event tagged: Release of One Billion Naira (1,000,000,000 Naira) Revolving Loan Scheme for Osun Cooperative and Micro-Credit Agency, Adeleke said it was in fulfillment of his campaign promise.
He said: “we fulfilled one of our key promises during the campaign season. We unveiled our Cooperative Movement Reform Plan for the cooperative society and Small & Medium-sized Enterprises (SMEs) in the state.
“At the first ever edition of the Osun State Cooperative Summit held under the Ministry of Cooperative and Empowerment, I highlighted our administration’s plan to revive the economy of the state through a robust support for the Small and Medium-sized Enterprises.
“I announced the immediate release of the sum of one billion naira (#1,000,000,000) only as a revolving loan scheme amount for the osun state cooperative movement at a single digit interest rate.
“This follows the implementation of a number of policies aimed at rejuvenating the cooperative model in the state notably the creation of the Ministry of Cooperative and Empowerment; the first of its kind in Nigeria.
