Lagos — In its bid to alleviate poverty, the Oyo State Government in conjunction with Intercontinental Bank Plc has set aside NI billion for the take-off of micro-finance scheme in the state.

This was disclosed by the Group Chief Executive, Intercontinental Bank Plc., Dr. Erastus Akingbola, who was represented by Mr. Olayinka Adebiyi, the Executive Director, Global Franchise Development and Management, at the launch of the scheme at the Premier Hotel, Ibadan yesterday.

Describing the gesture of the Adebayo Alao-Akala-led administration as a giant stride that would give the state a new face, he said, "Unveiling the scheme would go a long way in not only alleviating poverty in the state but also help in building an enduring enterprise culture which would ultimately turn around the economic fortune of the state."

On the occasion, Governor Alao-Akala, hinted that the focal point of his administration remained poverty alleviation, capacity-building and sustainable economic development.

According to the governor, the greatest economic miracles were those that touched the lives and pockets of people directly. "Indeed during and after our tenure, we want our citizens to be able to look back and say that despite a turbulent world economy, they are actually better off than when we assumed office," said the governor.

Akingbola commended Governor Akala for initiating the scheme.

was in line with the federal government and Central Bank's microfinance policy.

He described the governor as a man of the people and charged him not to continue making positive impacts on the lives of the people in the state.