BoI, Ooni sign N1bn deal to empower Ile-Ife youths

The House of Oduduwa and the Bank of Industry (BoI) at the weekend signed a Memorandum of Understanding worth N1 billion.

The deal is for a loan at an interest rate of 7.5 per cent to empower the youths in Ile-Ife.

While the Ooni Of Ife, Oba Adeyeye Enitan Ogunwusi, signed on behalf of the Oduduwa House, Acting Managing Director of BoI, Mr. Waheed Olagunju, represented the financial institution. Speaking shortly after the signing of the MOU, Oba Ogunwusi, said: 'I won't mind going hungry to empower the youths.

If the youths of today are empowered, many generations will benefit from them and poverty will be abolished. 'Today's event is another giant step in the history of Ile-Ife.

We are moulding future of our youths in the areas of agriculture and agro-allied industry. 'I put a challenge to other monarchs to engage in community partnership.

We should stop relying on government. There are so many initiatives that community leaders can tap into. Community leaders should go into partnership with multinational companies and financial institutions to benefit their people. 'This N1billion funding will obviously help the youth of the entire House of Oduduwa and beyond.

This is a very good template that should be emulated by others. As monarchs, we should think of what we can do for our people and support government in its empowerment moves. 'Government at all levels should set up a body that will particularly focus on local contents initiative.'