Metro

EKSG Set To Inject N600m Into Cooperative Societies To Boost Economy

As part of efforts to drive out poverty amongst the people and bring development to the 132 communities in the state, the Ekiti State Government is set to inject N600million  into the state cooperative societies to boost their lending capacity.

The state Commissioner for Rural Development and Community Empowerment, Mr. Folorunso Olabode made this known in Ado Ekiti while playing host to the Ekiti State Industrial/ Artisan, Produce and Service Cooperative Federation.

The commissioner who explained that the money was part of the state government efforts at empowering people of the state, said that it would also create employment for youths in the state.

According to him, the money would be used as revolving loan for members of cooperative societies, saying that it would be properly monitored to eliminate fraud.

Olabode, however charged the societies to judiciously use the fund for the purpose of creating wealth for the people of the state stressing that it is not for political patronage.

While assuring of more dividends of democracy, Olabode said Governor Fayemi would take care of all sectors in the state.

He went further to mention the achievements of the Governor to include: social security scheme for the elderly which he said has prolonged their age; provision of laptops for teachers and secondary school pupils in the state; renovation of all secondary schools in the state; and good road network.

The commissioner said that arrangements are on top gear to construct modern markets in all the 16 local government headquarters in the state soliciting for the support of the people in order to encourage the delivery of more dividends of democracy.

Earlier, the President of Ekiti State Industrial /Artisan, Producers and Service Cooperative Federation, Mr. Jide Ebenezer has requested for credit facility from the state government as promised by the Governor to cooperative societies.

Ebenezer said this would assist them to expand their businesses and enhance economic and industrial worth of the artisan members in the state.

While thanking the commissioner for hosting them, Ebenezer said this has assured them of the state government recognition.
He also called for more empowerment of the cooperative department in order to boost loan recovery.

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