Kwara: Fresh 9,000 Traders To Benefit From Owo Isowo, As Govt Begins Disbursement Monday

By: Lawal Merit Ifeoma

Kwara State Governor AbdulRahman AbdulRazaq has authorized the payment of funds to 9,000 new recipient of the state's interest-free micro-finance loans for small traders (Owo Isowo), a part of the Kwara State Social investment programme (KWASSIP), a statement has said.

The payment starts on Monday.

The Governor said it becomes a priority in the face of the wide acceptance and impacts the scheme has recorded across the state in aiding petty trading and wealth redistribution. 

"This administration prioritises public feedback a lot. The leadership of the Kwara State Marketers have appealed that beneficiaries should be expanded for maximum impacts. The Governor has granted their request, " according to the statement signed by Mohammed Brimah, Ag. General Manager, Kwara State Social Investment Programmes (KWASSIP). 

"We announced September last year to disburse to 21, 263 petty traders in Kwara. Now, we are looking to round it up to 30,000. The fresh disbursement is supposed to cover about 9,000 beneficiaries. 

"The figure could go up a little. A few of the 21, 263 traders earlier enumerated couldn't claim the fund due to various reasons, including change of location, death, wrong bank details, among other reasons. We are looking to fix new names to take up the spaces (of the missing beneficiaries). We have been working with the Kwara State Marketers stakeholders, including the Iyalojas and Babalojas of each market on the enumeration to arrive at the figure." 

Brimah added that the recovery of the N10,000 interest- free loan from the first set of beneficiaries will begin in March across the state.

"Owo Isowo is not free money. It is an interest-free loan of a minimum of N10,000 to assist small traders in growing their businesses.

Recipient are to begin reimbursement after six months of collection in bits that are suitable for them.

For the people captured in the first phase, recovery starts in March. We will communicate them duly.

We are seriously working with the leadership of the market women and other stakeholders to fashion a system that is okay by everyone."