Standard Life Organization, a microfinance institution, has so far disbursed the sum of N3 billion as loans to small, medium enterprises and agricultural value chain between January and September 2019, Oyegue Osazee, the managing director /chief executive officer, has said.
Osazee, who made the disclosure on Thursday during the commemoration of the 2019 International Day for the Eradication of Poverty in Benin City said the money was to boost productivity, increase the income level and reduce poverty in unbanked communities.
He said the money was disbursed to beneficiaries in South-South, South-East and South-West geopolitical regions.
Osazee who explained that the nongovernmental and microfinance institution commenced in 2010 in Cross River state, said more than 300,000 persons have been lifted out of poverty with women accounting for 96 percent.
He said that over 150,000 persons were empowered with the sum of N1,6 billion in South-South, 120,000 persons with N1.1billion in South-East while more than 30,000 women were empowered with over N400 million.
Osazee further disclosed that over 40,000 women involved in petty trading and small-scale agriculture in the three senatorial districts in Edo state benefitted from the microfinance institution’s empowerment.
He added that the institution had so far offered free medical outreach ranging from medical testing, treatment as well as referrals to over 53, 000 women.
According to him, the company’s aims and objectives are to help the economically disadvantaged women break out of the grip of poverty, provide financial support to small scale farmers for enhanced food production.
“Build strong and viable small scale business enterprises for economically disadvantaged people, enhance and promote self-employment through entrepreneurial development.
“We are poised to reaching every nook and crannies of our great country, Nigeria, in our quest to taking people, especially our rural women out of poverty. We are focusing on improving agricultural yields across the nation by supporting farmers, especially female peasant farmers, while encouraging modern best agricultural practices,” he said.
Osazee who said the institution intended to cover all the northern and south-western states by 2023, however, called on well-meaning individuals, government agencies, local, international among others to partner with the establishment
