Kwara gov approves N10,000 loans for 21,623 petty traders

OBINNA EZUGWU

Kwara State governor, Abdulrahman Abdulrazaq has announced the approval of N10,00 loan for each of the 21,623 petty traders in the state.

The governor who announced the decision in a statement on Thursday, said the loan is interest-free and its repayment is spread over 6 months for convenient payback and sustainability.

“Following the completion of a thorough and transparent enumeration process to select potential beneficiaries of KWAGEEP (Owo Isowo), I have approved the disbursement of at least N10,000 micro loans each to 21,623 petty traders across Kwara state,” the governor said.

“The loan is interest-free and its repayment is spread over 6 months for convenient payback and sustainability. It’s one of our strategies to redistribute wealth and tackle extreme poverty among our people.

“This social scheme is funded from the loot recovered by the Economic and Financial Crimes Commission Ilorin from players in the last administration.”