How Aaraj Foundation Released N150 Million to Boost Osun Economy


May 5, 2024

“The Aaraj Foundation, a philanthropic organization dedicated to empowering businesses and individuals, has released a substantial sum of over N150 million to support business owners in Osun State, according to its founder, Engr. Kehinde Raji, popularly known as AARAJ. This generous gesture aims to mitigate the effects of the fuel subsidy removal on the state’s economy.

Speaking at the 4th edition of the Osun Online Publishers Association (OOPA) Media Parley, Engr. Raji emphasized the need for collective support during these challenging times. He stated, “We have pumped over N150 million into the state’s economy since the fuel subsidy removal to help businesses stay afloat. For instance, someone who had N50,000 or N100,000 for their business can no longer buy goods worth N15,000 with that amount due to the hike in prices. That’s why we gave out N20-30 million to nano traders and another batch last month to cushion the effect of the subsidy removal.”

Engr. Raji also commended President Bola Tinubu’s decision to remove the fuel subsidy, stating that it was a necessary step towards economic recovery. “Nigeria has been mismanaged for a long time, and previous leaders were not fair to Nigerians. But I can assure you that within one year, Nigeria will be a better place. The Dangote refinery has started working, and the Port Harcourt refinery is at 60% productivity. Things will change soon, but for now, we need to support the less privileged.”

He highlighted the foundation’s efforts to support fresh graduates and business owners, saying, “We have given business support funds to fresh graduates and business owners to help them start or expand their businesses. Our goal is to empower individuals and businesses to thrive despite the current economic challenges.”

Engr. Raji urged Nigerians to put aside politics and support the country, expressing optimism that President Tinubu’s efforts would yield positive results. “I assure you, President Bola Tinubu meant well for this country.

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