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By Abdullah Ahmed
Kwara State Governor, Mallam AbdulRahman AbdulRazaq has launched the distribution of N350 million interest-free loans to 1,000 beneficiaries across the state, in a bid to boost small businesses, strengthen grassroots economies, and reduce poverty.
The loan scheme, valued at $250,000, is being disbursed under the Community Revolving Fund (CRF) initiative of the World Bank-supported Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) project in Kwara State.
Speaking at the ceremony in Ilorin, Governor AbdulRazaq said the initiative reflects his administration’s commitment to improving livelihoods and stimulating economic growth at the community level.
According to him, the programme is designed to empower women, youth, farmers, and cooperative groups with the financial support needed to create wealth, generate employment, and uplift households.
“This World Bank-supported initiative is a practical step towards reducing poverty and improving the local economy. I urge beneficiaries to make judicious use of the funds and ensure prompt repayment to allow others to benefit,” the Governor said.
Each benefiting group received $25,000, with participants drawn from various community interest groups across the state.
The State Commissioner for Environment and Chairman of the ACReSAL Steering Committee, Dr Nafisat Musa Buge, emphasized that the success of the programme depends largely on the responsible use and timely repayment of the loans.
She noted that the initiative goes beyond financial support, adding that the ACReSAL project has also delivered potable water to several rural communities to enhance living standards.
“This initiative represents hope, empowerment, and sustainable growth for our communities,” she said.
Also speaking, the State Project Coordinator for ACReSAL, Alhaji Shamsideen Aregbe, described the programme as a testament to the Governor’s commitment to inclusive development and shared prosperity.
He commended development partners, stakeholders, and implementing agencies for their roles in making the initiative a reality.
The Emir of Shonga, Dr Haliru Yahaya, lauded the Governor for his dedication to community development, noting that his domain has significantly benefited from ACReSAL and other government projects.
On behalf of the beneficiaries, Mrs. Abdulkareem Olapeju expressed appreciation to the state government, describing the loan scheme as life-changing.
The event was attended by top government officials, traditional rulers, community leaders, market women, and various support groups.
