5,500 traders both men and women were selected across the five local government areas in Ogun West senatorial district empowered by the senatorial candidate of the All Progressives Congress (APC), Senator Solomon Olamilekan Adeola, with grants to boost their businesses.
Speaking at the empowerment programme held at the Asade Agunloye Pavilion, Ilaro, Adeola, explained that the market women, who were drawn from various markets in Yewaland, were given cash grants of N25,000 through bank transfer, to insulate them against the economic crunch being faced by the country.
Adeola further explained that the programme was a micro financing scheme to boost the businesses of market men and women, saying that it was not a loan but a grant to bring succor to a critical sector of the people.
He stated that the traders had been contributing their quota to the socio-economic development of their communities and indeed the nation.
“In the face of economic challenges facing our nation, there is no doubt that our market women and men are facing challenges in their trading activities of goods and services at the lowest level in our markets. We have a good exception here in Gov. Dapo Abiodun’s commendable programme tagged “Oko Owo Dapo” which provided our market women and men some succor in trying times,” he said.
The chairman, senate committee on finance stated that beneficiaries of the empowerment programme were drawn from the 5 Local Government Areas of Ogun West Senatorial District.
“Beneficiaries were drawn from Ado Odo Ota, Yewa South, Yewa North, Ipokia and Imeko Afon local government. My vision here is to further impact directly on critical sectors of the society in ways to cushion the effects of the downturn of the economy on vulnerable persons. The various market associations were given forms through their leaders (Iyaolojas and Babaolojas) for onward distribution to members to ensure transparency and the apolitical nature of the exercise,” he said.
Adeola appealed to the beneficiaries to judiciously apply the grant to increase their various trades, saying they should not divert it to other uses unrelated to their marketing activities.
He stated that if well invested, the grants would ultimately yield increase and profits for their businesses to improve their standard of living.
Adeola maintained that, the empowerment of 5,500 market men and women was the beginning of developmental strides that would happen in Ogun West if he is elected as Senator in February 25 National Assembly election.
In her address, Mrs Yemisi Abass, the Iyaloja General of Ogun State, commended the senator for the kind gesture.
Abass said the financial support would support the traders and would also prevent them from obtaining outrageous loans with high interest rates.
