Oyebanji to dole out 1bn loan to cooperative societies in Ekiti

Ekiti State Governor Biodun Oyebanji has announced his administration’s readiness to give soft loans worth one billion naira to cooperative societies in the state before the end of January 2024.

Oyebanji, at an event in Ado Ekiti to mark this year’s World Cooperative Day,  said that plans are underway to partner financial institutions in achieving the target of giving loans to cooperative societies.

The governor, who stressed the importance of cooperative societies, noted that government recognized them as a means for sustainable development and as the backbone of society.

Oyebanji promised that his government would continue to prioritize the monthly payment of salary deductions and other emoluments that can enhance the growth and development of Ekiti people.

The governor expressed that various steps taken by his administration in the last one year had reduced the rate of unemployment among the youth.