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Naira Crisis: Oluwo empowers residents with sewing, grinding machines, sash, other items

By Guardian Editor
19 March 2023   |   3:26 am
As part of efforts to alleviate the hardship caused by the naira design policy, the Paramount Ruler of Iwoland, Iwo, Osun State, His Imperial Majesty, Oba Abdul Rasheed Adewale Akanbi, has empowered over 200 residents of Iwoland with various items.

Oluwo (second right) with the beneficiaries of sewing machines at the event

As part of efforts to alleviate the hardship caused by the naira design policy, the Paramount Ruler of Iwoland, Iwo, Osun State, His Imperial Majesty, Oba Abdul Rasheed Adewale Akanbi, has empowered over 200 residents of Iwoland with various items.

The empowerment programme was facilitated by one of the pride of Iwo, Mr. Tunde Rahman, to complement Oluwo’s Food, Clothing and Empowerment Bank.

Items distributed included sewing machines, grinding machines, food items – rice, Semovita and groundnut oil. Oba Akanbi equally assisted over 50 traders with N5, 000 cash each to sustain their businesses.

The monarch who lamented the hardship inflicted on Nigerians, especially petty traders by the naira scarcity, said the empowerment is to keep their respective businesses active.

Oluwo said he is aware of challenges facing traders caused by the naira swap policy, stating that the empowerment will decimate their sufferings.

He said the current economic challenge occasioned by the policy calls for concern by wealthy individuals, calling on government at all levels to prioritise and empower small scale businesses to ease the unintended conquence of the polity.

The monarch said his initial plan was to stage an elaborate cash empowerment, but was restrained by naira scarcity to give N5, 000 each to over 50 beneficiaries.

In all, about 30 sewing machines, 25 grinding machines, bags of rice, Semovita, groundnut oil were distributed to beneficiaries across Iwoland comprising of Iwo, Ayedire and Ola Oluwa Local Councils.

“I felt the pain inflicted on Nigerians most especially the petty traders. This is one of the best moments to extend helping hands to those struggling to survive. The naira scarcity has heightened the hardship, hence, the need to come to their aid.

“I have strong hope in my people to multiply any little amount given to them. The distribution of sewing machines, grinding machines and food items is to decimate the hardship inflicted on Iwoland residents. Small scale business owners are primary beneficiaries. I interacted with my people and always get feedback. The three councils of Iwoland – Iwo, Ayedire and Ola Oluwa benefitted. We need to keep them alive despite the new naira crisis.

“Sewing machines are given to tailoring apprentices without financial strength. We equally selected beneficiaries of the grinding machines and the foodstuffs. The princes, chiefs and residents benefitted from the food distribution.

“I also distributed cash to petty traders. Initially, I planned for an elaborate cash empowerment but naira scarcity is no man’s friend. I’m sure the over 50 beneficiaries of N5,000 each will make judicious use of the cash empowerment.

“I acknowledge my golden and promising son, Mr. Tunde Rahman who facilitated the programme.”

It could be recalled that Oluwo launched the food and clothing bank since his enthronement, catering for the widows, widowers, orphans and the less privileged and has been feeding them Mondays and Fridays of every week till date.

The monarch called on wealthy individuals to extend helping hands to the needy at this critical time of economic quagmire.