Hopes were restored yesterday for traders in the business communities of Ondo South as the Senatorial Candidate of the People’s Democratic Party ( PDP), Otunba Nicholas Tofowomo, promised to establish a revolving interest free loan schemes for traders if elected next Senator of the Senatorial District ahead of the forthcoming general elections.
Starnews reports that Tofowomo gave this promise yesterday at Ore business community following his endorsement at an interactive meeting held with traders’ union, widows and single mothers.
Addressing the women on behalf of Tofowomo, Hon. Banji Okunomo, Director-General of Tofowomo Campaign Organisation, said the loan schemes will be revolving and interest free.
He said the electorates cannot get any desired change if their representatives keep doing things the old ways.
“Tofowomo has promised to make a difference. He is determined to make a paradigm shift from the old ways of doing things. He will establish a revolving and interest free loan scheme to empower all the traders in our business communities under Ondo South.
“The loan is not going to be a meager amount like the APC traders’ money scheme being used for votes buying across Nigeria. The only responsibility you have now is to go and register a cooperative and issue membership cards to all your members.
“The loan will only be disbursed to the cooperative account where the executives body will handle the disbursement to members base on the capacity of their businesses with verifiable source of repayment.
“It is a revolving loan scheme. You must trade with the money. When you do, you already generate daily, weekly or monthly transactions as your source of repayment because it is a loan that must be paid back to allow others to have access to it. ” Okunomo told the people.
Reacting to the new development, Mrs Shileola Akingbola, president of Traders Union in Ore, promised to mobilise massive support for Tofowomo and all the candidates of the PDP ahead of the general election.
Akingbola however advised Tofowomo not to renege on any of his promises when elected next Senator of Ondo South.
She described the APC’s administration as a monumental failure, a party of hunger which must not be allowed beyond 2019 if Nigeria must not collapse totally.