Abeokuta – In a bold move to bolster grassroots economic empowerment, Senator Shuaib Afolabi Salisu, representing Ogun Central Senatorial District, has launched “Okowo Salisu,” a financial empowerment initiative under which he disbursed N100,000 each to 250 market traders drawn from across six local governments in Ogun Central.
The program, designed to enhance financial inclusion and long-term business sustainability, also includes a landmark partnership with Lotus Bank, where Senator Salisu has secured a free-interest loan facility for market women across the district.
Speaking to journalists in Abeokuta after the event, Senator Salisu described the initiative as part of his ongoing constituency empowerment program, which has already benefited students, youths, and traditional institutions in Ogun Central.
Key Components of the “Okowo Salisu” Initiative:
– N100,000 Grant Per Trader: Direct financial support to boost small-scale businesses.
– Interest-Free Loan Facility: Partnership with Lotus Bank ensures documented women traders can access loans without interest.
– Financial System Integration: Beneficiaries onboarded into formal banking for better access to credit and secure transactions.
– Business Training & Tools: Recipients trained in business development strategies and equipped with POS machines to promote digital transactions and reduce cash theft risks.
Senator Salisu emphasized that the program goes beyond mere cash handouts, stating:
“This is not just about handing out money. We have deliberately designed this intervention to move our market women from the informal to the formal economy by not only providing capital but also onboarding them into the financial system with the support of partnering financial institutions.”
He further explained the long-term vision of the initiative:
“We are focused on a holistic empowerment strategy. By transitioning them into formal systems, we unlock opportunities like access to loans, better tracking of business growth, and stronger economic inclusion.”
The “Okowo Salisu” initiative targets traders from key markets, including Abeokuta South, Abeokuta North, Ewekoro, Lafenwa, Odeda, Obafemi-Owode, Sango, and Ifo. In addition to the N100,000 capital, beneficiaries received extra support to cushion immediate expenses, ensuring their business funds remained intact.
In a notable show of support for the “Okowo Salisu”empowerment program, Chief (Mrs.) Kemi Oloyede, the Iyaloja General of Egba Market, praised Senator Shuaib Afolabi Salisu for his visionary policies aimed at uplifting market women across Egbaland.
“We deeply appreciate Senator Salisu’s consistent efforts in designing impactful empowerment programs that directly benefit our traders,” stated Chief Oloyede. “This initiative demonstrates his understanding of the critical role market women play in our local economy and his commitment to fostering sustainable growth across Ogun Central Senatorial District.”
Senator Salisu reaffirmed his commitment to women’s economic empowerment, declaring:
“Women are the backbone of the economy. If you empower a woman, you empower a family.”
With “Okowo Salisu,” the lawmaker continues his drive for sustainable grassroots development, building on previous empowerment programs for students, youths, and traditional institutions in Ogun Central.
