A chieftain of the Peoples Democratic Party in Osun, Dotun Babayemi, has empowered petty traders in the Iwo Local Government Area of the state with N10 million.
The petty traders were empowered under the Atunto Osun Cooperative Society, launched by Babayemi on December 8, 2023.
During the launch, the PDP chieftain promised to double any amount paid by contributors into the cooperative.
Speaking during the presentation of cheques to the beneficiaries on Wednesday, the PDP chieftain said that the gesture was to assist petty traders at the grassroots to expand their business.
Mr Babayemi said that the essence of the cooperative was to provide a platform for the small business owners at the grassroots in each of the local government areas for economic growth.
“The object here is not something that was driven by myself but something that came from the grassroots. They want a forum where they can express themselves. They want an avenue where they can seek for their betterment,” he said.
Mr Babayemi said that the money, which would be given to the petty traders under the cooperative, would be used to expand their business, adding that economic development of the grass-roots was important.
On the present economic situation in the country, Mr Babayemi urged Nigerians to continue to pray for those in power for wisdom to govern the country.
He said with prayers and cooperation of Nigerians with the government, Nigeria would overcome its challenges.
In his remarks, President-General of the cooperative society, Emmanuel Omoye, said that the N10 million was shared among the cooperators.
Mr Omoye said that the money was aimed at assisting the petty traders amid the present economic realities in the country.
He said those willing to join the cooperative must have come together for 90 days before they can benefit, adding that it is a mutually assured cooperative.
Some of the beneficiaries, however, commended Mr Babayemi for the gesture, stating that it would go a long way in boosting their business.