₦1.5 million Gov Loan to be Disbursed to Beneficiaries

Mr Akin Oyebode, the State Commissioner for Finance and Economic Development, disclosed this in a statement on Monday in Ado-Ekiti.

According to him, the sums ranging from N80,000 to N1.5 million will be disbursed to the beneficiaries of the loan scheme depending on their grade level.

Oyebode disclosed that benefiting officers on grade level two to six would get N80,000, while those on grade level seven to 10 would collect N250,000.

He said beneficiaries on grade level 12 to 14 would take N500,000, those on grade level 15 to 17 would get N750,000 and recipients on consolidated to get N1.5 million.


The commissioner expressed the commitment of the Fayemi’s administration to the welfare of workers in the state.

He described the governor’s approval

for the disbursement of the loan to workers as a fulfilment of his promise to improve the wellbeing of workers in the state.

Oyebode promised that the state government would continue to fund loan schemes for its employees in spite of paucity of funds.

“The general economic downturn and dwindling allocation from the federation account as well as the effect of the recent global pandemic would not be a stumbling block in this regard,” he said.

Oyebode urged the beneficiaries to judiciously utilise the money and cautioned them against spending the loan on things that would not add value to their lives.

The commissioner also charged the benefiting workers to reciprocate government’s gesture by rededicating themselves to their duties and supporting the administration’s efforts toward developing the state

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