Ondo Assembly urges micro credit beneficiaries to repay loans
By Elizabeth Oyeniwa
The Ondo State House of Assembly has appealed to beneficiaries of Micro Credit Loans in the state to repay their loans to enable others to benefit from the government’s empowerment initiatives.
The Assembly’s Committee on Commerce and Industry made the appeal during an oversight visit to the Ondo State Micro Credit Agency (OSMA) in Akure.
Speaking during the visit, the Committee Chairman, Afe Felix, noted that several small-scale business owners across the state still require financial support to boost their enterprises. He therefore emphasized the need for beneficiaries to repay their loans promptly so that the revolving fund can continue to serve others.
Felix lauded the Agency’s efforts in poverty reduction and economic empowerment, describing OSMA as a vital institution that contributes significantly to the state’s socio-economic development. He further assured that the legislature would continue to support every initiative aimed at generating employment, promoting self-reliance among youths, and improving the living standards of the people.
He explained that the committee’s visit was aimed at fostering collaboration with the Agency to address existing challenges and strengthen its operations for better economic outcomes.
Earlier, the Chairman of the Ondo State Micro Credit Agency, Mrs. Adenike Ademujimi, while briefing the committee on the activities of the Agency, said OSMA was established by law to empower productive but vulnerable citizens and help them become self-reliant.
Ademujimi appealed to the lawmakers to use their good offices to help revive the Agency and sensitize loan defaulters on the importance of repayment, stressing that failure to do so deprives other potential beneficiaries of access to the facility.
She added that the Agency offers various credit schemes to the public, accessible only after fulfilling stipulated conditions.
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