The Minister of Power, Chief Adebayo Adelabu through his non profit organisation, Bayo Adelabu Foundation (BAF) has donated 100m support grants to various members of Oyo State traders, artisans and farmers across the 33 local government areas. He explained that the grant will serve as an economic relief fund to further support the federal government amid the bold economic reforms of President Bola Tinubu, aimed to revamp and build sustainable growth for the economy.
Chief Adelabu in his address made it known to the members of the various groups that the support grant was organized for ten beneficiaries from each local government of Oyo State for each of the three major groups comprising traders, artisans and farmers, making 330 beneficiaries for each groups and 990 altogether.
“We asked each of the different groups to provide us 10 names from each local government so we can support their various businesses with #100,000 grant each, so they keep being vulnerable to the risks involved from the different loans companies.
“330 members of each of the groups will be beneficiaries of the #100,000 support grant, making 990 members altogether getting a total package of #99 million.” Adelabu stated to the beneficiaries and press men.
The Minister of Power also added another #3million for the executives members of the 3 groups and #3million to transport token for the 3 groups, making #105million altogether as the total sum donated.
Earlier in his address, Chief Adebayo Adelabu echoed the good work of President Bola Tinubu and his continued efforts to resuscitate the country’s economy through laudable reforms and policies no past leaders in the past had the confidence of taking.
He urged all members of the various groups to continue to support President Bola Tinubu to achieve greater success in his Renewed Hope Agenda. He reminded all that the dollar rate is now stable and gradually falling, Petrol is readily available at lower prices, food prices are fast coming down as well as the education loan fund for Nigerian students.
