Senator Francis Adenigba Fadahunsi, who represents Osun East Senatorial District, has launched a Revolving Loan Empowerment Scheme aimed at supporting over 700 small business owners and entrepreneurs in his constituency.
The initiative, in partnership with the Osun State Ministry of Cooperatives and Empowerment, seeks to address funding challenges faced by Micro, Small, and Medium Enterprises (MSMEs) in the area, promoting economic independence and poverty alleviation at the grassroots level.
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Senator Fadahunsi, who also serves as Chairman of the Senate Committee on Industry, emphasized that the program is a strategic investment rather than a handout. It is designed to foster sustainable development by empowering women and youths to become self-reliant.
According to a statement from the Senator, “The revolving nature of the loan means beneficiaries must repay on time to enable continuous support for future entrepreneurs, ensuring the scheme’s sustainability.”
Fadahunsi disclosed that the initiative has received commendation from the Osun State Government, which praised his dedication to community development and entrepreneurship.
Speaking at the disbursement ceremony, the Osun State Commissioner for Cooperatives and Empowerment, Honourable Bayo Ogungbangbe, highlighted the importance of responsible loan usage and timely repayment to sustain the fund’s impact.
The empowerment scheme complements the Senator’s previous efforts and reinforces his commitment to grassroots economic growth and sustainability.
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