Two Non-Governmental Organisations (NGOs), Helpline Foundation for the Needy and Ramatu Tijjani Aliyu (RTA) Foundation, on Monday disbursed N20,000 each as non-profit revolving loan to some market women in two communities in Kogi.
The News Agency of Nigeria (NAN) reports that the programme was inaugurated and coordinated by Ms Rekiyat Fache, at Ebira Community Secondary School in Nagazi axis of Adavi Local Government Area of Kogi.
Fache said that the beneficiaries, made up of petty traders and artisans from Okunchi and Idanuwha communities, were divided into two clusters of 20 participants each.
The coordinator stated that the measure was part of efforts of the two organisations to reduce the impact of fuel subsidy removal on the beneficiaries.
Fache explained that the money was a non-profit revolving loan scheme sponsored by the two foundations as start-up capital for the needy and vulnerable women in the society.
“We believe that our little palliatives will ultimately promote their businesses and cushion the effects of subsidy removal on their families.
“It’s our hope that the beneficiaries will make judicious use of the money for the purpose, which they are meant for.
According to Fache, the beneficiaries are divided into two clusters of 20 participants for easy circulation of the funds.
She said that the NGOs planned to increase the number of participants, if they could form more cluster groups to manage the non-profit revolving loan among them.
While praying for its profitability, she also cautioned them against using the money for luxurious things that would not benefit them.
Responding, the representatives and cluster leaders of Okunchi and Idanuwha communities, Mrs Bose Isah and Madam Musili Obobauja, thanked the sponsors of the empowerment scheme, Dr Jumai Ahmadu and Dr Ramatu Aliyu, for their gesture.
They promised to make judicious use of the loan and gave assurance that their team would never disappoint the foundations.
NAN reports that highpoint of the programme was a courtesy visit to the palace of His Royal Majesty, Dr Ado Ibrahim, the Ohinoyi of Ebiraland.
The traditional ruler, while receiving the entourage, prayed for continued elevation of Dr Ahmadu and Dr Aliyu, for the kind gesture.
Source: News Agency of Nigeria