Empowerment: Why We Shunned Bank Loans For Oyo Women – Mrs Makinde

Wife of the Oyo State Governor, Mrs Tamunominini Olufunke Makinde, has said the state is set to roll out a programme to empower women across the 33 local governments and 35 local council development areas in the state.

Mrs Makinde said this on Wednesday during separate meetings with women leaders from the local government areas and women from eight major markets in the state.

The First Lady said although many banks had come to her seeking to give loans to women in the state, she said she did not want them to fall into the trap of high interest loans which would kill their trades.

She explained that this was the reason she has sponsors and grants which would not put the women and their trades under undue pressure.

She said the governor was doing everything to empower women and make them financially independent knowing full well that this would have a multiplier effect on the state.

She said, “I want you to know that the present administration has the interest of women at heart, because as I said, women play a vital role in the society.  

“We have been talking to a number of financial institutions, very reputable ones. They promised to get back to us shortly with programmes that will be beneficial to our women. We are mindful of the harmful effects of loan schemes like ‘gbomule lantern,’ which place the livelihood of many women in jeopardy, so we are instituting programmes with human face.

“Empowerment programmes will soon be rolled out by the government, which all women will benefit from. Also, we are working to collaborate with banks, corporate bodies, and other sponsors.

“I had almost all the banks in Nigeria flocking to my office, looking for how to partner with me. All they were saying bordered on how to give microfinance loans at a low rate. And I told them that I would not mortgage the future of our women by driving them to take loans. I told them that if I mortgage our women to come and borrow money, when are they going to pay back? 

“So, I asked them to go look at their grants and come back and give whatever they can give to our women. I have already started talking on your behalf. I do not support microfinance, because I have motherly feelings for our children. “