𝐎𝐬𝐮𝐧 𝐒𝐭𝐚𝐭𝐞 𝐆𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐒𝐢𝐠𝐧𝐬 𝐌𝐎𝐔 𝐰𝐢𝐭𝐡 𝐅𝐞𝐝𝐞𝐫𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐎𝐬𝐮𝐧 𝐒𝐭𝐚𝐭𝐞 𝐂𝐨𝐨𝐩𝐞𝐫𝐚𝐭𝐢𝐯𝐞𝐬 (𝐅𝐎𝐒𝐂𝐎𝐎𝐏) on 𝐂𝐨𝐨𝐩𝐞𝐫𝐚𝐭𝐢𝐯𝐞𝐬 𝐑𝐞𝐯𝐨𝐥𝐯𝐢𝐧𝐠 𝐋𝐨𝐚𝐧

…Releases over ₦300 million as first tranche of the ₦3.4Billion cooperative revolving loan.

The Osun State Government, under the distinguished leadership of His Excellency Asiwaju (Dr) Ademola Jackson Nurudeen Adeleke, has fulfilled its promise made during the 1st Osun State Cooperatives Summit and Awards held in January this year by signing a Memorandum of Understanding (MOU) with the Federation of Osun State Cooperatives (FOSCOOP) and other Cooperatives for the release of over ₦300 million as the first tranche of the ₦3.4Billion revolving loan.

This landmark agreement was signed by the state government represented by Hon. Prince Bayo Ogungbangbe (fcssm), the Commissioner for Cooperatives and Empowerment. The over ₦ 300million revolving loan marks the first tranche to be released to the Cooperatives Federation and other Cooperatives, with the commitment to release subsequent tranches in due course. This initiative is geared towards empowering and supporting the cooperative movement in Osun State, in line with the theme of the summit, “Co-operative-Pathway to Economic and Social Development.”

Speaking on behalf of FOSCOOP and other Cooperatives at the landmark event, the President of the Federation of Osun State Cooperatives (FOSCOOP), Alhaji AbdulRasheed Diekola Kolawole, expressed gratitude to Governor Adeleke for fulfilling the promise and assured continued support to the government, “the collaboration between the government and Cooperative Societies in Osun State signifies a giant step towards fostering economic and social development within the state through cooperative empowerment.” he stated.

The signing ceremony was graced by notable dignitaries, including Special Adviser to the Governor on Cooperatives and Empowerment, Hon. Isaac Durojaye; Permanent Secretary, Ministry of Cooperatives and Empowerment, Mr. Sunday Gbenga Fadele; Director of Cooperatives, Mr. Babatunde Ogunjide; Director of Empowerment, Mrs. Peju Oginni; Prince. Gbadebo Adeleke; Mr. Bashir Olayemi; Mr. Babatunde Olowoyeye, Principal, Cooperatives College, Hon. Oyeniyi Rasheed, Hon. Musbau Abioye, Alhaji Tiamiyu Wasiu Adeoye FOSCOOP Executive Secretary.