From Lateef Dada, Osogbo
Osun State Governor Ademola Adeleke, on Wednesday, launched the first phase of loan to cooperatives in the 332 wards in the state.
He said the first phase kicked off at the Olonkoro city hall, Osogbo, with a total amount of N1,145,400,000 would be shared with 15,272 beneficiaries.
The governor explained that the target is to reach 46 beneficiaries in each of the. 332 wards across the state.
In his speech, he said, “I am to reconfirm to our people again that this government is committed to boosting the local economy, relieving the pains of the people and deepening the state GDP.
“Permit me to give you some details about the programme we are launching today. We are operationalising 332 cooperatives in each of the 332 wards in Osun State. The target is to have forty-six beneficiaries per ward, making a total of fifteen thousand, two hundred and seventy-two beneficiaries.
“The target participants include men and women traders and, artisans to benefit in phase one of the Ward Level Cooperatives Programme. Phases two and three of the programme will have the same number of beneficiaries.
“The funding for the programme is to be provided in three instalments of N1,145, 400,000.00 for each phase. This will make a total of N3,436,200,000 for the planned three phases.
“In summary, phase one will have fifteen thousand, two hundred and seventy-two (15,272) beneficiaries. A similar number of beneficiaries will benefit from both phases two and three, making a total of forty-five thousand, eight hundred and sixteen beneficiaries.
“I must however add that each beneficiary must belong to a trade association with a letter of character attestation to be provided by each beneficiary from his or her trade association before disbursement,” Adeleke said.
Earlier in his welcome address, the Commissioner for Cooperatives and Empowerment, Bayo Ogungbangbe, commended Adeleke for his dedication to fulfilling his promise of making life better for the people of the state.