The Ogun State Government has started the disbursement of N500m soft loans to artisans and traders in the state.
The state governor, Dapo Abiodun, who had earlier disclosed the plan, emphasized that the soft loan, known as “Oko’wo Irinse Dapo,” will be handed to traders and craftsmen within 30 days once the necessary arrangements have been finalized, according to The Punch.
He said, “In fulfilment of the promise I made in the year 2022, which was to provide N500m in soft loans for the artisans that we call “Okowo Irinse Dapo”, I have instructed the Commissioners for Finance, Trade, and Investment and Community Development and Cooperative, to work out the modalities for disbursement of this loan.
“The N500m is available for disbursement. However, we need to work out the details of how this disbursement will be made, and I have given them one month to ensure that our artisans and trade unions begin to benefit from this disbursement.”
The governor also revealed the disbursement of grants and subventions to community development associations and area, zonal, and senatorial development committees across the state.
“Today, over 200 Community Development Associations will receive grants ranging from N200,000 to N5m. Additionally, subventions and administrative grants will be allocated to 437 Area Development Committees, as well as 20 Zonal Development Committees and three Senatorial Community Development Committees, namely the Ogun State Community Development Council and the Ogun State Trade Council,” the governor added.
