EKSG To Inject N300 Million Into Cooperative Societies In Ekiti

September 9, 2013

Enterprise promotion and poverty alleviation are to further receive a boost in Ekiti State as the Fayemi administration has concluded plans to inject N300 million into cooperative societies in the state.
The State Commissioner for Rural Development and Community Empowerment, Chief Folorunso Olabode made this known during the annual general meeting of the Oluwaseyi multipurpose cooperative union in Igbara Odo.
The Commissioner said the official presentation of cheques to the benefitting cooperative societies will take place in October, 2013 during activities marking the third anniversary of the Fayemi-led administration.
Stressing the importance of cooperative societies in the establishment of small and medium business, Commissioner Olabode said available information has revealed that members of various cooperative societies in the state use loans accessed from the societies for a wide range of individual development including property acquisition, purchase of home appliances as well as funding of education of their children.
He emphasized the multiplier effect of government’s gesture to the economy of the state, stressing that the scheme was designed to empower the people using an established and widespread traditional institution provided by the cooperative societies.
Olabode said that the Fayemi administration decided to establish full fledge ministry to coordinate the activities of cooperative societies in the state in recognition of the important roles cooperative societies in the economy of the state.
The Commissioner urged all stakeholders to reciprocate government gesture by continually supporting the efforts to develop the state and improve their lot.
Earlier in her welcome address, the president of Oluwaseyi Multipurpose Cooperative Union, Igbara Odo, Chief (Mrs) Beatrice Owoeye had commended the Fayemi administration for embarking on programmes and policies aim at eradicating poverty in the state.
Chief Owoeye added that with the injection of money into the societies would boost economic activities and improve the life of the masses in the state.
In his contribution, the president of the Federation of Ekiti State Cooperative, Chief Adeola Oluwatuyi lauded the achievement of Governor Kayode Fayemi in Ekiti State.
Chief Oluwasuyi promised the support of cooperators to the administration of Dr. Kayode Fayemi in the State, adding that
cooperative societies in the state will use any financial assistance given to them judiciously.

Last modified: September 9, 2013

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