The Osun State Government, through the Ministry of Cooperative and Employment, is set to provide a revolving loan for Small and Medium Scale business entrepreneurs in Ijesha land to fast-track economic growth. The initiative is being implemented in partnership with the Ijesa Community Development Assembly (ICDA).
The Chairman of ICDA and Asiwaju of Ijesa land, Chief Yinka Fasuyi, disclosed this in Ibokun, the headquarters of Obokun Local Government Area of Osun State, during a training programme on the Ijesa Development Fund with the theme “Community Needs Identification and Appraisal for Ijesa Development Fund (IDF).”
Fasuyi revealed that ICDA had already paid its counterpart fund of N68 million, while the Owa Obokun supported the funding with N32 million, bringing the total to N100 million. He added that the state government’s contribution would be announced as soon as it is made.
He explained that the Ijesa Development Fund was established by the Ijesa Community Development Assembly, an indigenous Non-Governmental Organisation, to identify and implement socio-economic projects for the people of Ijesa land and promote sustainable development.
According to him, the objective of the initiative is to capture over 99.5 percent of Ijesa people whose names were omitted from the Ijesa Development register.
Fasuyi highlighted some achievements already recorded, including the newly constructed ultramodern Owa Obokun’s palace, the Ijesa land Geriatric hospital, a three-year full scholarship for 250 underprivileged Ijesa students to attend the Federal School of Science and Technology Ilesa, and 100 others who study yearly at Lenventis Foundation Agricultural School, Ilesa.
He said, “The sustainable development of Ijesa land is the responsibility of all Ijesas in the noble mission to rebuild, restore, and reposition Ijesa land. The Ijesa Development Fund (IDF) has embraced a progressive and inclusive framework to honour every act of generosity, no matter the size or scope.
“No finger is too small, no hand is too big, but every contribution counts towards Ijesa development through a participatory and inclusive ICDA initiative, Ijesa Development Fund.”
The IDF Accountant, Mr Akin Olatunbosun, explained that one of the criteria for accessing the Ijesa co-op loan is the National Identification Number. He warned participants that the revolving loan “is not a national cake.”
Guest Lecturer, Professor Niyi Okunlola, spoke on Community Needs Identification. He noted that there is a significant gap between needs and wants, stressing that community needs must take precedence over wants.
He cited an example of a man who required funding to purchase farm implements but instead used the loan to marry a new wife. He said such a situation would not have occurred if the loan had been structured to meet the actual need for farm implements rather than giving out cash.
Professor Okunlola identified an all-inclusive participatory approach to Needs Identification and Appraisal as the catalyst for sustainable development.
The Ijesa Development Fund (IDF) is described as an all-encompassing, participatory, demand-driven, and sustainable Development Model developed by ICDA to identify and drive socio-economic projects by the people, for the people, uplifting every ward and complementing government efforts across Ijesa land.
