The lawmaker representing Osun East, Senator Francis Fadahunsi on Thursday disbursed a N70m empowerment loan to 700 small business owners in his constituency —an initiative that has drawn commendation from Governor Ademola Adeleke.
Speaking through his deputy, Kola Adewusi, at the launch of the Revolving Loan Empowerment Scheme in Ilesa on Thursday, Adeleke praised Fadahunsi for what he described as “visionary and people-centered leadership,” noting that the initiative could be a model for other lawmakers.
This was disclosed in a statement personally signed by Fadahunsi in Abuja.
“We deeply appreciate our father and leader, Baba Fada, who has never wavered in his commitment to the welfare of his people,” the governor said. “This initiative is another testament to his vision for a more prosperous Osun East.”
The N70m loan, disbursed in partnership with the Osun State Ministry of Cooperatives and Empowerment, targets micro and small enterprises struggling with limited access to funding.
The initiative comes at a time when small businesses across the country are grappling with inflation, poor infrastructure, and dwindling purchasing power.
Senator Fadahunsi, who chairs the Senate Committee on Industry, described the scheme as a strategic investment in the economic sustainability of his constituency—not a political gimmick or a one-off handout.
“It is important to empower our business owners, especially women and youths, in order to reduce poverty and encourage a self-reliant ideology among our constituents,” Fadahunsi said in a statement issued through his Senior Legislative Aide, Ayo Awodirepo.
He emphasized that the scheme was carefully designed to promote entrepreneurship at the grassroots level and ignite sustainable development, particularly in a region with a growing population of underfunded microenterprises.
Speaking at the event, Osun State Commissioner for Cooperatives and Empowerment, Bayo Ogungbangbe, urged beneficiaries to view the loan as seed capital, not free money.
“This is a revolving fund. Every naira you repay becomes the capital that will support the next entrepreneur,” Ogungbangbe said. “This programme is only as sustainable as your commitment to it.”
He also lauded the senator’s foresight and encouraged local cooperatives to adopt similar models in supporting their members.
The empowerment launch attracted a broad spectrum of political figures, traditional leaders, cooperative representatives, and business stakeholders from across the senatorial district.
Several beneficiaries, some of them traders, artisans, and budding entrepreneurs, expressed gratitude to the senator for what they called a “rare act of leadership with empathy
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