Home >> Economy >> FG Injects N300m in Osun Micro Economy As Osinbajo Launches Trader Money

FG Injects N300m in Osun Micro Economy As Osinbajo Launches Trader Money

The economy of Osun state has received boost as the Federal Government injected a sum of N300m into the state’s micro economy with an empowerment programme for 30, 000 petty traders in the state.

Vice President of Nigeria, Prof Yemi Osinbajo on Monday launched the “Trader Money” empowerment programme, aimed at giving 30, 000 petty traders a sum of N10, 000 each as soft loan.

Launching the programme in Iwo, Osinbajo reinstated the commitment of President Muhammad Buhari’s administration to alleviating poverty country and empowering the less privileges in the country.

Osinbajo stated that the petty traders has the highest figure in the economic structure, maintaining that the current administration will continue to support the masses to enhance their living standard and ensure that life is abundant for them.

According to Osinbajo, the government of the All Progressives Congress at the federal is determined to support all hardworking masses and petty traders, saying that they also deserve to build house, buy cars and do good things in life.

Speaking at the event, Governor Rauf Aregbesola of Osun, said the APC government at both Federal and state level is concerned about the welfare of the less privileges in the country, noting that no government in Nigeria had shown passion to alleviate poverty like that of the APC.

Aregbesola stated that the socio-security programme embarked upon by his administration are borne of the need alleviate poverty in the state and make life meaningful to the masses.

The Governor informed the general public that the Trader Money empowerment programme has nothing to do with politics, saying everybody, irrespective political affiliation is entitled to the loan.

He explained that the programme was launched in Iwo because the community has the biggest market Odo-Ori in the state.

On the September 22nd governorship election in the state, Aregbesola urged members of the APC who had defected to come back to the party, saying ‘a big position has been reserved for them if they return on time.’

The governor declared that spot patching and other maintenance would begin on all deplorable internal roads in Iwo in some days to come.

He added by all means, his administration would start the reconstruction of Osogbo-Iwo road, urging the people to continue to support and vote for the APC.

In her address, the Executive Director, Bank of Industry, Mrs Toyin Adeniji disclosed that more than 10, 000 petty traders have been registered so far in Osun for the empowerment.

According to Adeniji, each of the 30, 000 beneficiaries is being given N10, 000 loan with six months payment duration and N250 interest, adding that after the repayment, the beneficiary will be given N15, 000 loan with N375 interest for six month duration.

Upon payment of the N15, 000, the beneficiary will be given N20, 000 with N1000 interest and from there to N60, 000, according to Adeniji.

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