Warri South Council loan N40million to cooperative societies

Warri South Local Government Council in Delta State, has given out N40milliion as revolving soft loan to four cooperative societies, as part of the Sheriff Cares Programme of the Comr. Agbateyiniro Weyinmi Isaac administration.

The four cooperative societies; Warri South Women Multipurpose Cooperative Society, Christian Association of Nigeria Warri South Multipurpose Cooperative Society, Utukpa Oritse Cooperative Union, Ubeji Market and Lower Erejuwa Motor Spare Parts Cooperative Society, received ten million naira (N10,000,000.00) each.

Speaking during a Financial Literacy and Micro-Credit Management Skills Programme organized in Warri for Market Traders in Warri South Local Government Area, Wednesday November 19, the Chairman of Warri South Local Government Area, Comr. Agbateyiniro Weyinmi Isaac, explained that the programme is connected to the human capital development component of his administration’s MORE GRACE Agenda.

Whilst noting that at the federal level, the programme is called NG-Cares and D-Cares at the state level, the Warri South Local Government Boss, asserted: “There's hardly any segment of people in Warri South, that have not benefited from the Sheriff Cares Programme. More persons, will be captured into this Sheriff Cares Programme.”

Comr. Agbateyiniro, who mentioned the various empowerment and educational-support programmes so far implemented by his administration, told members of the cooperative societies: “It's a revolving loan scheme, we help you register the cooperative society, with an official of the Council as Secretary and allow the cooperatives manage the loan.”

Warri South Council Supervisor for Human Capital Development, Princess (Mrs.) Misan Eke, in her opening remarks, appreciated Comr. Agbateyiniro for strengthening community engagement and empowerment.

Princess (Mrs.) Misan Eke (Middle) alongside Presidents of the cooperative societies

Mrs. Eke, explained that the Financial Literacy and Micro-Credit Management Skills Programme, was to enlighten the traders on how to manage the soft loan.

She expressed optimism that the soft loan will positively transform the businesses of the beneficiaries, stressing that it is not for social activities, just as she noted that the interest-free loan, is payable within 12 months.

A resource person from WEMA Bank, Alero Edema, recalled how traders from other major markets in Warri, received the first tranche of the soft loan and have been paying back the loan as scheduled.

Alero Edema, addressing members of the cooperative societies

While commending Comr. Agbateyiniro for the initiative, Edema, stated: “The turn out from those wey benefit from the first empowerment, was encouraging and we pleaded with the local government to expand the scheme.

“The money is to support your business, not social activities. It shows the local government cares about us, they want us to grow. The local government feels you and wants to be part of your businesses. Know you will repay the loan, so invest it into your business.”

A cross section of some of the cooperators 

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