Kwara State Governor AbdulRahman AbdulRazaq has launched the distribution of N350 million in interest-free loans to 1,000 residents, a move aimed at strengthening small businesses, stimulating local economies, and driving sustainable development.
Each beneficiary will receive N350,000 under the Kwara Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) project—a World Bank-assisted initiative implemented through the Community Revolving Fund mechanism.
Speaking at the flag-off ceremony in Ilorin, Governor AbdulRazaq encouraged beneficiaries to make judicious use of the funds and ensure timely repayment to guarantee the scheme’s sustainability.
“This World Bank-supported initiative is designed to provide our women, youth, farmers, and cooperatives with access to resources that will enable them to create wealth, generate employment, and uplift households. It is a practical step towards reducing poverty,” the Governor stated.
The Commissioner for Environment and Chairman of the ACReSAL Steering Committee, Nafisat Buge, emphasized that the initiative’s long-term success hinges on the beneficiaries’ commitment to repaying the loans. She also noted that the programme has provided potable water to rural communities, significantly improving living conditions.
Describing the project as a testament to the Governor’s commitment to inclusive growth, the State Project Coordinator, Alhaji Shamsideen Aregbe, reaffirmed the administration’s dedication to grassroots development. The Emir of Shonga, Dr Haliru Yahaya, also commended the Governor’s sustained efforts in community development.
A representative of the beneficiaries, Mrs Abdulkareem Olapeju, expressed gratitude to the Governor, describing the interest-free loan as a life-changing opportunity.