***Programme Supports President Bola Tinubu’s Economic Empowerment Vision – Prince Olokunboro
In a move aimed at boosting grassroots entrepreneurship and advancing President Bola Tinubu’s Renewed Hope Agenda, the Olokunboro for Tinubu and the Progressives (OTAP 2027) has launched a 50 million Naira interest-free revolving loan scheme for market women, artisans and small-scale business owners in Ondo State.
The initiative, unveiled at the Akure City Hall, is designed to provide accessible credit facilities to entrepreneurs at the grassroots level, enabling them to expand their businesses, improve their livelihoods and contribute to local economic development.
The launch attracted traders, artisans, youth groups, political stakeholders, traditional rulers, religious leaders, market leaders and beneficiaries from Akure South, Akure North, Oba-Ile and Ondo communities.
Chairman of the Planning Committee, Mrs. Olaifa Oluwatoba, described the programme as a strategic intervention targeted at empowering market women, petty traders, artisans and other grassroots entrepreneurs who often face challenges accessing financial support.
According to her, the scheme underscores the commitment of OTAP 2027 to fostering economic inclusion and creating opportunities for local businesses to thrive.
The Iyaloja General of Nigeria, Mrs. Folasade Tinubu-Ojo, represented by the Iyaloja General of Ondo State, Mrs. Bolade Eko-Davies, commended the initiative, describing it as a timely intervention that would ease access to capital and strengthen small businesses across the state.
Speaking at the event, Convener of the OTAP 2027 Movement, Prince Akintayo Olokunboro, said the revolving loan scheme was conceived to bridge the funding gap faced by many small-scale entrepreneurs.
He noted that the programme would commence with an initial fund of 50 million naira, stressing that beneficiaries would be expected to repay the loans to enable others benefit from the scheme.
“When market women and small business owners succeed, communities prosper. This revolving loan scheme is not just about giving out funds; it is about creating sustainable opportunities, strengthening families and stimulating economic growth across our communities,” Olokunboro said.
He added that the most transformative aspect of OTAP’s initiative is the vision to connect local businesses to international opportunities as today’s technology has eliminated geographical barriers such that a trader in Akure should be able to sell products to buyers in Toronto, Edmonton, London, New York, , Johannesburg, and other parts of the world.
He urged beneficiaries to utilize the loans judiciously to expand their businesses and improve their economic standing.
Some beneficiaries expressed appreciation to the organisers, describing the initiative as a welcome development that would help boost their businesses and improve their standard of living.
The OTAP 2027 Market Women Credit Scheme is expected to provide financial support to hundreds of traders and artisans, while promoting financial inclusion and grassroots economic empowerment across Ondo State. .
