Kwara State launches $250,000 community revolving fund for small businesses

Business, Politics

NIGERIA (NPA) — 28 March 2026 — The Kwara State Government, in Nigeria’s North Central region, has empowered clusters of small businesses across local communities with a total of $250,000 (₦350 million) in interest-free loans under its new Community Revolving Fund (CRF).

Governor Abdulrahman Abdulrazaq, in a statement on 25 March, described the initiative as one of the many fruits of the state’s partnership with the World Bank through the Kwara Agro-Climatic Resilience in Semi-Arid Landscapes (Kwara ACReSAL) project. He explained that the World Bank-supported scheme is designed to provide women, youth, farmers, and cooperatives with access to resources that will enable them to create wealth, generate employment, and uplift households.

The government emphasised that the CRF is a practical step towards reducing poverty, a central focus of the present administration. Beneficiaries were drawn from community interest groups, each receiving $25,000 to strengthen their enterprises.

Governor Abdulrazaq expressed gratitude to the World Bank and the ACReSAL project team, congratulating the pioneer beneficiaries. He urged them to use the funds judiciously and ensure prompt repayment so that other groups can also benefit. “This initiative is about shared prosperity,” he said, stressing that repayment will guarantee continuity and wider impact across Kwara communities.