Uduaghan: Why Delta Micro-credit Scheme is Successful

BY ABU IDRISU:

Delta State Governor, Dr Emmanuel Uduaghan has highlighted the secret of the success recorded by the state's micro-credit scheme initiated by his administration in 2007.
Uduaghan gave the hint at the presentation of loan certificates to a fresh set of beneficiaries of the interest-free loan programme, yesterday in Eku, Ethiope East Local Government Area of the state.
The beneficiaries were drawn from 138 “cluster groups” across Ethiope East.
Uduaghan said the success of the scheme was partly because his government did not attach any political strings to it, saying his administration has revolutionised small scale industry in the state.
He said the state government did not attach political conditions such as membership card of the Peoples Democratic Party (PDP), saying his government has treated all parts of the state equally irrespective of whether they supported the PDP or not.
The governor however urged those yet to benefit from the scheme to be patient.
A total of 111,000 persons have so far benefited from the regular disbursement of loans by the Delta State Micro-Credit Pogramme (DMCP) since its inception in 2007, the governor revealed, saying probably more than ten times that number have also benefited indirectly from the programme.
Of the above figure, more than 67, 000 of the beneficiaries are women, he said, noting that women have lived up to expectations from the outset as the women appeared to have showed more commitment and made more significant returns on their loans during this period.
He stressed that the primary aim of the DMCP is the general economic empowerment of the people of the state through credit creation and employment generation, adding that such is the best way of tackling insecurity in the state and country at large.
He advised the beneficiaries “to grow your business with the loan, which is seed-money,” saying it was not meant to be wasted on irrelevant lifestyles and extravagant spending.
“The money is seed-money that you must use to grow your business, it is not for you to buy cars and build houses as you will comfortably do that when your business is doing well,” Uduaghan noted.
The governor further urged Delta State citizens, especially youths, to take full advantage of the “numerous windows of opportunities presented by the Delta-Beyond-Oil initiative” of his government, which he noted would adequately equip them to face the inevitable challenges of old age.
“Youths should be hard-working and emulate those who have made it through genuine means; they should shun social vices and utilise empowerment programmes that we have. This is the time to prepare genuinely for old age," he said.
On his part, Delta State Deputy Governor, Prof. Amos Utuama assured residents of the state that Uduaghan would not relent in positioning the people for future challenges especially in the spirit of ‘Delta Beyond Oil.’
Earlier in her welcome address, the Delta State Commissioner for Poverty Alleviation, Dr. Anthonia Ashiedu, thanked Uduaghan for sustaining the programme, which has empowered a lot of Delta citizens.
She advised the beneficiaries never to loose sight of the fact that their success depends on prudent use of loans and commitment to their businesses.