Governorship aspirant under the All Progressives Congress (APC), Dr. Adewale Kolapo Kareem, has committed ₦5million to support an interest-free loan scheme for traders and small-scale entrepreneurs in Fiditi community, Oyo state.

The Ibadan born politician released the first batch of ₦1million through His Royal Majesty, the Onifiditi of Fiditi, HRM Oba Sakiru Oyewole Adekola Oyelere (Ajani-eedu II).

Although Kareem was not physically present, his address was delivered by his representatives, who formally presented the ₦1 million to the monarch in support of the ongoing community-based loan initiative.

In his message, Kareem described the intervention as part of his broader grassroots economic empowerment strategy ahead of the 2027 governorship election in Oyo State.

“Kabiyesi is our father. The development of Fiditi and the prosperity of its people are paramount to me,” Kareem stated in the address presented by a member of his team.

“Supporting this interest-free loan scheme is not just a donation; it is an investment in the dignity and productivity of our people.”

He explained that the ₦1 million released represents the first tranche of a ₦5 million commitment, adding that the balance of ₦4 million would be disbursed subject to transparent feedback and measurable impact.

“We are adopting a performance-based approach. Once we receive positive reports showing that the funds are reaching genuine traders and stimulating business growth, the additional ₦4 million will be released,” he said.

It will be recalled Kareem rolled out similar funds late last year when he released N5 million for same interest-free loans in September.

Kareem noted that the initiative is targeted at petty traders, market women, artisans, transport operators and other small-scale entrepreneurs who often struggle to access conventional bank financing due to collateral requirements and high interest rates.

He maintained that sustainable economic transformation must begin at the grassroots level, emphasizing that micro and small enterprises remain critical engines of local economic growth.

“If we truly desire economic transformation in Oyo State, we must start from the markets and workshops that sustain everyday families,” the statement read. “What we are doing in Fiditi today reflects the larger vision we have for structured support to small businesses across the state.”

Kareem also commended the Onifiditi for championing community development initiatives and expressed confidence that working through the traditional institution would ensure credibility, transparency, and effective distribution of the loans.