Senator Francis Adenigba Fadahunsi, representing Osun East Senatorial District of Osun State and chairman of the Senate Committee on Industry, has launched a Revolving Loan Empowerment Scheme aimed at supporting over 700 small business owners and entrepreneurs in his constituency.
The initiative, in partnership with the Osun State Ministry of Cooperatives and Empowerment, seeks to address the funding challenges faced by Micro, Small, and Medium Enterprises (MSMEs) in the area, promoting economic independence and poverty alleviation at the grassroots level.
Senator Fadahunsi emphasised that the programme was a strategic investment rather than a handout, designed to foster sustainable development by empowering especially women and youths to become self-reliant.
The revolving nature of the loan means beneficiaries must repay on time to enable continuous support for future entrepreneurs, ensuring the scheme’s sustainability.
The initiative received commendation from the Osun State government, with Governor Ademola Jackson Adeleke’s deputy praising Senator Fadahunsi’s dedication to community development and entrepreneurship.
The Commissioner for Cooperatives and Empowerment, Hon. Bayo Ogungbangbe, highlighted the importance of responsible loan use and timely repayment to maintain the fund’s impact.
The programme was well-attended by political leaders, cooperative societies, and community stakeholders, reflecting broad support for Senator Fadahunsi’s vision of a resilient and economically vibrant Osun East.
This empowerment scheme complements previous efforts by the Senator, including cash grants and training programmes for constituents in various business sectors, reinforcing his commitment to grassroots economic growth and sustainability.
