From Magnus aEze, Enugu
The immediate past leader of Enugu State House of Assembly, Ikechukwu Ezeugwu hasvowed to work assiduously in alleviating poverty especially in Enugu State.
Henoted the biting economic hardship in the country, saying that it prompted hisfoundation to roll-out N10 million microcredit and grants business start-ups.
Over60 individuals and business groups on January 17, 2024, benefitted from thefinancial facility of the Ikechukwu Ezeugwu Foundation to enable them improveon their various trades and investments.
Thefoundation had in the past 12 years trained manpower in different professionsthrough award of scholarship for higher institutions of learning where it hasproduced medical doctors, engineers, nurses and others.
Unveilingthe scheme at Igugu, Udenu Local Government Area, Enugu State, Chairman of thefoundation, Ikechukwu Ezeugwu said that it was a liberation scheme from wheresmall business concerns could be uplifted. He noted that he had borrowed tostart business in Lagos, years ago.
Hesaid the beneficiaries were carefully selected petty businessmen and women,urging them to extend similar help to others in their own little ways.
Someof the business groups that benefited in the interest-free credits include theIgugu Community Trade and Investment Committee, Nsukka Produce Association,Orba Produce Buyers Association, Ozioko Council of Elders and Oganiru Age GradeAssociation.
Heexplained that the scheme was a further support to the less privileged andneedy in the society, since they had done much in education endowments: “It’snot only about giving them the money because we have individuals that will bemonitoring them to guide them and watch them grow.
“Wedecided that not only would we be giving them fish, but we would equally teachthem how to catch fish. We decided on a humble beginning of ten million naira,those who got fifty thousand naira each just to help them start table business,a good number got one hundred thousand, some people got five hundred thousandand groups got one million naira each.
“Forgroups such as the Cashew Produce Marketers’ Association, it’s like a revolvingloan, they use it for one year interest-free and bring it back, because youwill monitor them, if they deserve to be given additional money on top of theone million naira, the foundation will look into it.”
Amember of the Board of Trustees of the foundation, Prof Malachy Okwuezedisclosed that the foundation started with scholarship awards to deservingpersons from Udenu local government and later extended to beneficiaries fromEnugu north senatorial zone and has spread not only to beneficiaries from thesouth east, but also North East geopolitical zones of Nigeria: “Recently,starting from 2023, the foundation noted that people have to feed before goingto school and that is how the micro-credit and grant for business startups cameabout.”
Traditionalruler of Igugu Autonomous Community, Igwe Augustine Ezeugwu revealed that thebenefactor had from outset been inclined to giving of charity, even before hejoined politics.
Asa way of boosting the community’s trade and investment committee whichbenefited N1million microcredit, the monarch further donated another N1millionto the committee: “In the next five years, the Igugu community will change forthe better.”