Scores Benefitted From Fayemi’s N45million Social Investment Initiative 

No fewer than one hundred micro and small scale business owners have benefited from the social investment initiative  of the Kayode Fayemi’s administration.

Governor Fayemi made this known at the  flag-off ceremony for the disbursement of the money to the beneficiaries in Ado Ekiti,   Ekiti State Governor,

Represented by the Commissioner for Finance and Economic Development, Mr Akin Oyebode,the governor  said the initiative was a well thought out programme aimed at ameliorating the attendant financial constraints and other social economic challenges brought about by the covid 19 pandemic.

Governor Fayemi reiterated the commitment of his administration to programs explicitly tailored to mitigating poverty among Ekiti people and dwellers by opening new economic horizons for committed youths, women and men entrepreneurs.

He said the program is an offshoot of EK -CARES initiative and falls under the pillar 3 of the social investment agenda.

While appreciating the federal government initiative in collaboration with the world bank at ameliorating the various challenges encountered by entrepreneurs during the pandemic, Dr Fayemi  charged the beneficiaries to make judicious use of the grant for the growth of their businesses.

The Governor echoed that officials of world bank and Independent verification agents shall be visiting the beneficiaries to measure the impact of the grant.

In his address, the Commissioner for Finance and Economic Development, Mr Akin Oyebode who was represented by the Permanent Secretary of the ministry, Mr Babasola Folorunso said Ekiti COVID-19 Action Recovery and Economic Stimulus is aimed at facilitating recovery and enhancing capabilities of local businesses through interventions designed to reduce the vulnerability and cushion the effect of income-loss brought about by the pandemic and it’s disruption to regular commercial activities.

He said the program has recorded success through the support of the federal government and BOSAK micro finance Bank that provided technical assistance on project activities and result.

In his opening remarks, the Director General of MEDA in Ekiti State, Otunba Kayode Fasae appreciated Governor Fayemi for his interest in alleviating poverty among Ekiti residents who have been badly affected by the scourge of COVID-19.

He said the beneficiaries have been drawn from all  the local government  and Local Council Development Areas, LCDAs through three delivery platforms.

There were goodwill messages from the Head of Service, Barr Bamidele Agbede, GCEO BOSAK Micro Finance  Bank, Mr Kola Bello and state CARES Coordinator Bukola Ogunlade. They all appreciated Governor Kayode Fayemi and urged the beneficiaries to channel the money to what it was meant for.

Speaking on behalf of the beneficiaries, Mr Kolade Joshua from Emure Ekiti appreciated Ekiti State government for deeming it necessary to cushion the effect of income-loss caused by COVID-19 and promised to make judicious use of the grant given to them.

The beneficiaries went home with money ranging from two hundred and fifty thousand naira to nine hundred and fifty thousand naira.

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