Festus Ahon
19 November 2008
AS part of effort to develop the people of its host communities, the Shell Petroleum and Development Company, SPDC, West, Friday gave out N102 million as micro credit loan to 2,013 beneficiaries from 17 host communities.
The General Manager, SPDC, West, Mr. Cor Zegeleer in his address during the ceremony which was held at the Petroleum Training Institute, PTI, Effurun, Delta State said about 12,818 persons from 104 communities have benefited from the company's micro credit scheme, adding that a total of N624 million has been disbursed to beneficiaries under the programme between May and October, 2007.
Zegeleer who spoke through the manager, Emergency Response, Mr Harriman Oyofor disclosed that a similar event would be held in Yenegoa in two weeks time.
According to him, 810 persons from 8 host communities would receive N48 million under the programme in Yenegoa.
He pointed out that their micro credit programme was a critical tool for economic growth, and was regarded as one of the most effective strategies in the global fight against poverty, saying " not only has microfinance proved sustainable, but it can also be implemented on a big enough scale, to effectively respond to the urgent needs of the poor for access to credit, which other conventional funding approaches have been unable to provide."
In his address at the occasion, the Deputy Governor of Delta State, Prof Amos Utuama said the programme was a display of its corporate social responsibility and assured the management of SPDC of the support of the state government for the programme.
Utuama who was represented by Dr. Antonia Ashiedu, Executive Assistant to Governor on micro credit, said the Governor Uduaghan's administration was pursuing a three-point agenda of peace and security, human and infrastructural development and stated that the programme would assist their people and aid their human capital development effort in the state.
The deputy governor admonished the beneficiaries to repay the loans at the stipulated time, even as he appealed to SPDC management to consider an increase in the amount of money from the current average N55,000 that goes to each individual, especially as the money was not being given to established groups.
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