Adeleke releases one billion naira to Osun Cooperative and Micro-Credit Agency

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By Olayinka Awofadeju 



Osun State Governor, Senator Ademola Adeleke released One Billion Naira (1,000,000,000 Naira) Revolving Loan Scheme for Osun Cooperative and Micro-Credit Agency yesterday.

According to the governor, "we have 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, governor said they have highlighted their administration’s plan to revive the economy of the state through a robust support for the Small and Medium-sized Enterprises.



He said, he has 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.

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