The Oyo East Local Government Area of Oyo State has launched the Isokan Cooperative Scheme for members of the public with N2 million as take-off grant.
This was revealed yesterday by the Executive Chairman, Oyo East Local Government Council, Hon. Saheed Adeyemi Arowosaye, after the launch in Kosobo, Oyo town.
The cooperative society, according to Hon. Arowosaye will be giving out interest-free loans to members in Oyo East Local Government Area.
He said the new plan is coming as a stream that offers affordable cooperative loans to members of the public to ease their financial stress.
Known by an alias, ‘Say no to Gbomu le lantern,’ the initiative, being promoted by the Oyo East Local Government Area is meant to boost the affordability of basic needs of citizens of Oyo East Local Government Area.
Speaking with stakeholders, during an engagement session, Hon. Arowosaye urged anyone who might be interested to register with the cooperative society to take advantage of the rare opportunity.
Hon Arowosaye aid that under the scheme, residents are encouraged to organise themselves into structured groups, to access loans from the cooperative.
He added that the scheme is an affirmation that the state government under the leadership of Engr. Seyi Makinde is meeting its mandate of making life easier and affordable for the residents in the Pacesetter State, especially those within the medium and low-income bracket.
The local government chairman said, “I urge anyone that might be interested to register with the cooperative societt to take advantage of this rare opportunity.”
Arowosaye revealed that the chairman of the society is Alhaji Adedeji Wasiu Adekola, while Mrs. Ajolayo Adebayo is the secretary.
