Federal Government has donated N5million as revolving loans to 500 women across the 33 local governments in Oyo State, to improve their businesses.
The money was disbursed through the National Directorate of Employment (NDE) to beneficiaries at Donald Hall, St Joseph Catholic Church, Oke-Ado, Ibadan.
Making the disbursement in line with the COVID-19 guidelines, the state NDE Coordinator, Mrs. Olayinka Olayemi, said the initiative was designed to help the women start and expand their businesses.
She said the programme was under NDE’s Micro Enterprises Enhancement Scheme (MEES), adding that it would contribute to economic growth and poverty reduction.
Olayemi said the empowerment was part of the Federal Government’s laudable programme across the country “being implemented by the NDE under the leadership of Dr. Nasiru Argungun.”
The NDE boss said each of the beneficiaries would get N10, 000 as financial backing to start up a micro business or expand the existing one.
Mrs. Florence Ajimobi, wife of the late former governor, Abiola Ajimobi, who facilitated the loan, hailed the Federal Government for the gesture.
Mrs. Ajimobi, represented by Mrs. Omolara Farinloye, noted that the President Muhammadu Buhari administration meant well for Nigerians, especially the less privileged.
The Southwest Zonal Director of NDE, Alhaja Aolat Safaru, urged the beneficiaries to ensure effective utilisation of the funds and engage in productive business.