From Lateef Dada, Osogbo
A financial expert, Anthony Owolabi, has advised the Federal Government to focus on the grassroots for the promotion of the Gross Domestic Product (GDP) of the country’s economy.
He said the best way to reduce poverty is to start at the grassroots level and empower the petty traders.
Owolabi who is the president of Ayiwola Ifesowapo Cooperative Society, stated this during a press conference heralding the launch of a N500 million loan for 200,000 people of Ayedire, Iwo, Olaoluwa Local Governments in Osun State, on yesterday.
He explained that the purpose of the loan which would be launched on December 19, is to discourage begging and promote commercial activities for the betterment of the people.
“The initiative is an NGO arrangement to tackle poverty at the grassroots and is meant to give interest-free loans to people at the grassroots to do business that can earn them a living. The grassroots promotes the GDP of the economy. We must encourage petty traders irrespective of their political beliefs.
“The objective of this loan is to reduce poverty at the grassroots level. It will discourage begging and promote commercial activities.
“We have local intelligence that we should empower. The money some people need to survive is not big. Our women and girls are being molested because of little things that can easily be addressed by philanthropists,” Owolabi said.
The representative of Ayedire Local Government, Afeez Oyesiji, appealed to the beneficiaries not to see it as a father xmas gift.
He promised that there would be some enjoyment for whoever paid as and when due.