Oyo State Disburse Holiday Loans to Thousands of Workers

In a bid to alleviate the financial burden on its employees during the upcoming Eid-el-Kabir festivities, the Oyo State Government has provided interest-free advances to 2,500 civil and public servants.

The distribution, which took place at the Agricultural Credit Corporation’s premises in Ibadan, was overseen by Chairman Taofeek Akeugbagold.

The package includes essential items such as livestock, grains, and cooking oil, all offered at significantly reduced prices. This initiative, spearheaded by Governor Seyi Makinde’s administration, aims to cushion the effects of soaring commodity prices, particularly during holiday seasons.

To date, over 5,000 public workers have benefited from this scheme, with the cost of the items to be repaid through a salary deduction plan spanning three months.

According to Akeugbagold, the state government’s goal is to ensure that its workforce can observe the holiday without undue financial strain.

Governor Makinde has instructed the corporation to offer this economic respite to workers, enabling them to celebrate with dignity despite the current economic climate.

The corporation has expressed its willingness to expand this program in the future, aligning with the government’s objective of promoting economic stability and social welfare.

Beneficiaries, including Kunle Adeyemo, have expressed their appreciation for the government’s timely intervention, stating that it will enable them to participate in the festivities with joy and dignity.

Akeugbagold reaffirmed the government’s commitment to prioritizing the well-being of its employees, underscoring the importance of their welfare during challenging economic times.