A Glance at Governor Ademola Adeleke's Achievement Series:

A Glance at Governor Ademola Adeleke's Achievement Series: Revitalizing Osun State's Local Economy and Empowering SMEs

As part of his commitment to fostering economic growth and development in Osun State, Governor Ademola Adeleke has made significant strides in revitalizing the local economy and supporting Small and Medium Enterprises (SMEs) through the Ministry of Cooperatives and Empowerment. This achievement series highlights the governor's milestones in this regard.

Ibrahim Sarafa

Cooperatives Revolving Disbursement: A Game-Changer for Local Economies

In a bid to empower local economies, the governor's administration has disbursed interest-free loans to cooperative societies across the state. The disbursement was done in two phases, benefiting 401 cooperative societies across 332 political wards. The first phase saw 300 wards receiving N2.1 million each, while the remaining 101 wards received N1.050 million each. A total of N736,050,000 was disbursed in this phase. The second phase, under FOSCOOP, benefited 250 cooperative unions and societies, empowering 10,233 individuals with N800,000,000 in interest-free loans.

Furthermore, an additional N50,000,000 revolving interest-free loan was disbursed to Osun indigenes in Abuja and Northern Nigeria. The total fund disbursed for the Osun Cooperative Revolving Loan stands at N1,586,000,000.00.

Food Bank Initiative and Imole Business Empowerment Scheme: Cushioning Economic Hardship

To alleviate the effects of economic hardship, the governor's administration launched the food bank initiative in collaboration with Fidelity Bank, benefiting over 3,000 individuals. Additionally, the "Imole Business Empowerment Scheme" was introduced, targeting over 5,000 women and youth across the state. This scheme offers free business registration through the Corporate Affairs Commission (CAC), distribution of Point-Of-Sale Terminals, and start-up grants.

Upgrade of Sen. Isiaka Adetunji Adeleke College of Cooperative Studies: A Hub for Cooperative Education

In another significant milestone, the governor's administration has upgraded the Sen. Isiaka Adetunji Adeleke College of Cooperative Studies, Ode-Omu to a Uniosun Campus for Cooperative Studies, which will offer degree-awarding Management Science Courses starting September 2025. This upgrade is expected to position Osun State as a hub for cooperative education, further enhancing the local economy.

Governor Adeleke's achievements in the Ministry of Cooperatives and Empowerment demonstrate his commitment to creating an enabling environment for SMEs and local economies to thrive. These initiatives have not only empowered individuals but have also contributed to the overall economic growth and development of Osun State.