The Foundation for Effective Leadership and Development (FELD), under its Multipurpose Cooperative Society, has commenced the disbursement of N100, 000,000 (One hundred Million Naira only), interest free micro loans to small businesses and creative entrepreneurs’ operating within Aniocha/Oshimili area of Delta State.
The first tranche of the disbursement was held at Ogwashi-Uku, Aniocha South LGA, Delta State, in an elaborate ceremony, on Thursday, December 16, 2021, with 120 beneficiaries of N50, 000 each totaling N6 million. Many others who also thronged the venue, received beautiful Ankara fabrics in the spirit of Christmas.
Hon. Paul Adingwupu, Chairman of FELD Foundation and a great philanthropist, said that the initiative of the foundation and its many development programmes, stemmed from the resolve to build a strong and healthy economy from grassroots.
“The need to invest in people, so as to stimulate local businesses, enhance the creativity and ingenuity of our people at the grassroots and ultimately reduce the scourge of unemployment in Nigeria, cannot be overemphasised,” Adingwupu explained.
He however, advised the beneficiaries to use the loan judiciously for what it was meant for and ensure repayment not later than six months, so as to qualify for higher amount of money and also for others to acccess the loan.
Hon. Jude Chukwuwike, Chairman, Aniocha South Local Government Council assisted Hon. Paul Adingwupu in presenting the prototype cheque of N6m to the beneficiaries and the distribution of Ankara materials.
“To actualise the vision of sustainable economic development of Nigerians as canvassed by FELD Foundation, and the economic prosperity for all Deltans mantra by Sen. Ifeanyi Okowa led administration in Delta State; we have set aside the sum of One Hundred Million Naira (N100, 000,000) to support small business owners in form of interest free micro loans repayable for a period of six-month.
“The disbursement will cover the four local government areas of Aniocha and Oshimili,” he added.
Just as posited by Henry David Thoreau; “one is not born into the world to do everything but to do something’, Hon. Paul Adingwupu believes that doing something may be all that there is to changing the course of a life.
Accordingly, since the establishment of FELD Foundation in 2011, he has continued to pursue the vision of sustainable development of Nigerians regardless of tribe, tongue and religion, with the foundation spreading its blanket of hope to the deprived and underprivileged in the society, through its activities in Lagos and Delta States.