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THAT OUR PEOPLE MAY BREAK OUT OF POVERTY, LESS VULNERABLE BEING AN ADDRESS BY HIS EXCELLENCY, DR. EMMANUEL EWETA UDUAGHAN, THE GOVERNOR OF DELTA STATE, AT THE LAUNCHING OF THE DELTA STATE MICRO-CREDIT PROGRAMME, AT KOKO, WARRI NORTH LOCAL GOVERNMENT AREA, ON FRIDAY, 14 DECEMBER, 2007

His Excellency, the Deputy Governor,
Hon. Members, Delta State House of Assembly,
Members of the State Executive Council,
Secretary to the State Government,
Chief of Staff,
Political and Economic Advisers,
Special Advisers,
Top Government Functionaries,
Your Royal Highnesses,
My Lords, Spiritual and Temporal,
Gentlemen of the Press,
Distinguished Ladies and Gentlemen.

I am happy to be here today to kick-start one of the major planks in the social and economic focus of this administration, the Delta State Micro-Credit Programme.

This programme is a crucial aspect of our poverty alleviation strategy whose key element is to facilitate access of the economically weak and disadvantaged segments of the population, to productive assets and services, through a sustainable credit programme.

One of the basic requirements for sustainable economic growth is the systematic development of human resources. This is a primary engine of long-term development. It also explains why we have made sustenance of peace and human capital development, key components of the three-focal point agenda of this administration. Our objective is to achieve the happiness, economic enhancement and independence of the poorest, the weakest, the most disadvantaged and vulnerable.

We are also convinced that this programme will go a long way to enhance the sustenance of peace and security in our dear State. As Bangladeshi Nobel Laureate, also dubbed as the Banker of the Poor, Dr. Mohammed Yunis observed, lasting peace cannot be achieved unless large population groups find ways in which to break out of poverty. Dr. Yunis who received the Nobel Peace Price in 2006 for pioneering the use of micro-credit to benefit poor entrepreneurs, recognises this type of programme as a major fillip in removing people from the poverty line. He has successfully demonstrated that even the poorest of the poor can earnestly work to bring about their own sustainable development.

We want the poor in our midst to have access to means of production, turn them into entrepreneurs in their own right, employers of labour and masters of their own economic destiny, with the ability to turn the economic fortunes of the State around for the better. It is in furtherance of this goal that we have designed the Delta State Micro-Credit Programme, which will make soft credit available to those, who, as a result of their social and economic status, do not have access to the conventional banking and credit system.

The regular financial institutions, owing to their nature and mainly influenced by profit motives, cannot put down funds on projects that are low yielding, not backed by adequate collateral, with slow repayment schedule and, sometimes, some predictable repayment default. In the absence of alternative funds for this group of people, government is taking it up as a social responsibility and obligation, to provide them with the necessary credit, as we cannot continue to neglect them, especially as they are in the majority.

I am informed that the facility is open only to cluster groups such as cooperative societies and other small but dynamic groups with a verifiable economically-driven focus. Let me therefore call on our people to form cooperative societies or belong to existing ones, to avail themselves of the opportunities provided by this programme.

To the beneficiaries, let me stress that you should not see the proceeds of this programme as your own share of the national cake but rather, as a challenge to your spirit of entrepreneurship, integrity, honesty and character. I implore every beneficiary to live up to the terms of the credit. It is only when you promptly repay, that you give opportunity to others to benefit from the programme. This appeal is necessary as it is not possible for government to spread the gesture to all at the same time.

I congratulate would-be beneficiaries and wish them the best in their endeavours. I also congratulate the leadership and staff of the Delta State Micro-Credit Programme for the wonderful effort they have put in. I urge you to work harder and see today's ceremony as the beginning in the service of our people.

It is now my honour and privilege to launch the Delta State Micro-Credit Programme to the economic advancement of our people, State and the glory of God.