Rotary Club empowers 20 petty traders with micro- credit loans
TO lessen the sufferings of traders within its community, the Rotary Club of Ikeja in District 9110, Nigeria on Monday presented micro-credit loans to 20 petty traders in Isolo, Lagos.
The Club’s President, Mr. Tosin Kadiri, who led the Service Project Director, Mr. Samson Agbator during the presentation, said the loan was part of Rotary Club’s desire to empower the community to reduce criminal tendencies in the society.
He stressed that the club had remained committed in the past five years to the reduction of poverty within the community by giving out interest-free loans to petty traders.
According to him, the club recognised the difficulties in getting financial assistance from the financial institutions, hence, the decision to come to their rescue.
“We are convinced that when you empower women, you end up empowering the society and thereby reduce societal malaise”, he added.
Kadiri said beneficiaries of the loans were to repay the facility within the next three months so as to allow others benefit from the programme.
He also stressed the club’s commitment to increase the loan from N500,000 to N1 million in the next one year because of what he called success of the programme.
According to him, the traders had shown that they were well-organised and had not defaulted from repayment, hence the club’s commitment to increase the amount,” he added.
Speaking on behalf of the beneficiaries, the Iyaloja of Obada Isolo Market, Alhaja Wosilat Yusuf expressed happiness with the gesture and urged other service- oriented groups to emulate Rotary Club of Ikeja to alleviate the sufferings of petty traders.
She appealed to the beneficiaries to ensure prompt repayment of the loan to encourage the club to do more.
Similarly, the president of Lagos State Property Development Corporation (LSPDC) Estate, Ilewe Meta, Isolo, Lagos, urged the club to continue with the tradition to ensure that poverty is reduced.
On his part, one of the beneficiaries and a butcher at the market, Subaru Lagbaja, said the N25,000, he received would be utilised judiciously in order to justify the confidence reposed on him.
The Guardian learnt that 50 traders benefitted from the programme, while the next beneficiaries are expected in the next three months.