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50 persons benefit from Rotary Club of Gbagada’s micro- credit scheme

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SONGS of praise rent the air inside the building of Star Micro Finance, Ososa in Ogun State as well as words of gratitude in divergent methods of communication by not less than 50 beneficiaries as Rotary Club of Gbagada in Lagos, renewed its micro-credit scheme, an empowerment programme that began in 2009.

  In his welcome address, the President, Rotary Club of Gbagada (2014-2015), Prof. Olukayode Taiwo described the ninth edition of the micro- credit scheme, categorized under “Economic and Community Development” as one of the ways the Club has chosen to address the challenges of increasing poverty in various communities including Ososa. 

“This project is funded by the Rotary Club of Gbagada, one of the over eighty clubs in Rotary International, District 9110, Nigeria, which include Lagos and Ogun states, in conjunction with Rotary Club of Ann Arbor North, District 6380, United States of America (USA),” he said.

He commended the Managing Director, Mr. Hector Fakayode as well as the management of Star Micro Finance, Ososa, for the professional way it has been handling the money since the inception of the programme.

  Giving the background to the project, the Past Assistant Governor, Ayo Onafuwa traced the history of the scheme back to when some members of the club visited him in USA and members of the Club of Ann Arbor North, District 6380 so much admired the love and respect given to Onafuwa, believed in the sincerity and integrity of the members of the club and therefore, decided to collaborate with the Rotary Club of Gbagada in Nigeria by initiating the micro-credit scheme with the sum of N1 million.   

  He urged beneficiaries to keep to the terms of the scheme by using the money judiciously for their trade and make prompt repayment.

 The District Governor, Rotary International, District 9110, comprising Lagos and Ogun states, Dr. Dele Balogun said he was happy that the Rotary Club of Gbagada had initiated such a programme for the people of Ososa and pleaded with the beneficiaries to ensure they reciprocate the gesture of the club by making use of the money for the purpose for which it was given and make repayment to justify the retention of the money in the town.

 The Managing Director, Star Micro Finance Bank, Hector Fakayode said the amount of N1 million with which the scheme started has increased to N1,518,000.00, which would all be disbursed.  He commended the Rotary Club of Gbagada for initiating the scheme, which according to him was in consonance with the directive of the Federal Government on poverty alleviation and ascertained that there had been no defaulters among the beneficiaries.

Alhaja Afolashade on behalf of the beneficiaries thanked the Rotary Club of Gbagada and demanded that the grant be increased from N50,000.00 to N100,000.00.

 In a related development, the Club  also commissioned  a renovated Ago-Iwoye Secondary School Science Laboratory.

  In his address, Olukayode Taiwo disclosed that the renovation was effected based on the need assessment carried out which indicated that the Science laboratory was last used for its primary purpose in 1955 and revealed that the exercise borne by the Rotary Cub of Gbagada was at a cost of N5,391,500.00.

  Balogun assured that the club would equip the science laboratory, which would go a long way to influencing the quality of students that would pass out of the school.  He assured of Rotary International District 9110’s readiness to assist brilliant and indigene students of Ago-Iwoye in line with its annual programme.   He appreciated the creation of Rotary Club of Ago-Iwoye Metropolitan and assured of the District’s readiness to give artificial limbs to amputees and assist through surgical operation those having cataract in Ago-Iwoye.

 The Commissioner for Education, John Olusegun Odubela, lawyer, who was represented at the programme by Mrs. Osho Olukoya said he was impressed by the Club’s contribution to the development of education in the State through the renovation of the school’s science laboratory, which he described it as a welcome development.

  The Ebumawe of Ago-Iwoye, Oba Abdulrazak Adenugba lauded the project and pleaded with the management of the school to ensure maintenance culture to preserve the renovated laboratory.

The School Principal, Sotunde Olusegun Adesina said the massive and impressive renovated structure would boost the science education in the school.


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