Okowa disburses N101m loan to 101 cooperative groups in Delta

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(Nigeria) Governor Ifeanyi Okowa of Delta State on Thursday disbursed N101 million in micro credit loans to 101 cooperative groups in the state.
Speaking at the ceremony in Asaba, Okowa said the loans were under the Central Bank of Nigeria, CBN, Micro, Small and Medium Enterprise Development Fund.
He said that the loans were aimed at lifting those at the lower levels out of poverty.
Okowa said that more than 3,600 persons, mostly women, had benefited and navigated their ways out of poverty in the state from December 2015 to date through the CBN credit scheme.
He advised beneficiaries to grow their businesses and repay the loans to enable other groups to benefit from the scheme.
According to Okowa, the disbursement of over N101 million to more than 1000 persons, drawn from the 25 local government areas of the state, is a huge boost to his administration's prosperity agenda.
"As at December 2015, a total of 2, 617 persons were empowered with the sum of N435.2 million under this same programme.
"To the beneficiaries, the CBN has made it very easy for you to payback your loan with minimal interest rate, so go and succeed, make good of the money, work hard, plan well and commit to quality and excellence".
Okowa, however, appealed to those who had not been empowered to be patient, while thanking the CBN and the State Micro, Small and Medium Enterprise Development Agency and its board for their good work.
Mrs Bello Shimite, the Executive Secretary of the Agency, said the scheme was a revolving one and advised beneficiaries to repay their loan to enable others to benefit from the scheme.
According to her, those who benefited from the disbursement include farmers, artisans, fashion designers, hair dressers, market women among other groups.
Chief Suru Salami, the Agency’s Board Chairman, said that the board had been repositioned to ensure effective recovery of loans and advised beneficiaries to key into the prosperity agenda of government.
He said that apart from the micro credit scheme, the Agency's leather works and shoe factory at Issele-Uku would form a veritable center for youth development and training.
"We see this facility as fertile ground for the training of our youths in skills acquisition," he said.
Mrs Elizabeth Agu, the CBN Branch Manager in Asaba, commended the state government for effectively utilising the funds.
The beneficiaries commended the state government for the programme and called for more support from the government.
Mr James Ogbo, a fish farmer, thanked the governor for coming to their aids during the flood, stressing that things had improved for farmers in the area. 

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