…as Legal Icon donates N200m for Cooperative Societies, Pavilion Project at Ekiti Monarch’s Palace
By Rotimi Ojomoyela
Ado-Ekiti–Legal Luminary and the founder of Afe Babalola University, Ado-Ekiti (ABUAD), Aare Afe Babalola has taken a swipe at the government over poor road network, epileptic power supply and non existence pipe-borne water in Nigeria, saying these infrastructural deficits are responsible for the relocation of multi-national companies from the Country.
This was just after the elders statesman had called on government at all levels for the immediate reconstruction of Ado-ljan-Ikare Road, describing the road as a death trap for users.
Babalola had stated that the road should be the top priority of the government, because it’s the major link road to the University, Airport, Ondo State and the Federal Capital Territory.
Speaking over the weekend in Ado-Ekiti during the 2nd anniversary of Aare Afe Babalola Day, the Legal Icon also expressed disappointment at the interest rate charged by Banks, hence his decision to set up a two cooperative Societies for male and women with an initial price of N200m, in order ship Nigerians out of poverty and unemployment.
Babalola, over the weekend also donated the sum N100 to the Cooperative Societies and N100m to the Ewi of Ado-Ekiti, Oba Rufus Aladesanmi, for the completion of the pavilion project in the palace.
Recall that the Aare Afe Babalola Day is an annual event, to celebrate the legal icon over his unalloyed commitment to public service in the areas of Law, Education, Health, Community Development, Agriculture and display of humanity.
His words, “I am worried about the state of the Nigerian economy today having regard to what it was before and what it is now. There was a time when everyone had a garden behind his house no matter his profession or vocation. That was the time when everyone had enough to eat and had excess to give to others.
“The way things are today with many of the multi-national companies relocating out of the country, no reasonable investor wants to come and invest in Nigeria. There are no good roads, no regular supply of electricity, life is not safe at home, on the road, in the classroom, at the train stations and even at airports. Today, flight schedules are no neither predictable nor reliable.
“The rate of interest charged by Banks and the conditions for granting loan make it difficult for the ordinary man to request for bank loans.
“It was in appreciation of this gesture that I set up two Cooperative Societies with N200million to provide loans for 2,000 people at a minimum of N100,000 per person. Members will only pay 5% interest on the loan to the Cooperative Society, compared to over 20% charged by banks.
“I am happy the two Societies are functioning very well. I appeal to well-to-do Ekiti people to support the Cooperative Society by donating to the capital gift by me to the two Cooperative Societies to ship our people out of unemployment and poverty.
“I also appeal to those who are yet to join the Cooperative Societies to register and join forthwith. I believe that anybody can make it in life. All that is needed is direction with some help or assistance from kind hearted people”.
Addressing the gathering, Ekiti State Governor, Mr Biodun Oyebanji represented by the Deputy, Chief Monisade Afuye, commended Babalola for being the highest tax payers and highest employer of labour in Ekiti State, saying his contributions to society and human development is immeasurable and deserves to be celebrated.
The Ewi of Ado Ekiti, Oba Adeyemo Adejugbe noted that Aare Afe Babalola had demonstrated that Africa can compete with the best in the world in excellence through his University, Afe Babalola University Ado EKiti ABUAD.
He said that his Hospital, Afe Babalola University Multi-System Hospital (AMSH) remains a medical innovation while his farms and industries have provided relief for many citizens.
He charged residents of the State to emulate the values of Babalola by vying for service above self, commitment to excellence, integrity in leadership, faith in hardwork, education and patriotism.
In his speech, the global president, Ado Progressive Union, Segun Famuagun appreciated the contributions of the legal luminary to society development and appealed to well meaning sons and Daughters of Ado Ekiti to consider investing in the cooperative, saying such is a direct investment in the future of people and economic prosperity of Ado EKiti.
Another highlight of the event was the presentation of cash price of N500,000 each to outstanding members of the cooperative who obtained and returned the loans at the stipulated time.
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