…says small medium scale enterprises are backbone of state economy
The Executive Governor of Osun state, Senator Ademola Adeleke on Wednesday, flagged off N200M micro credit loan scheme for entrepreneurs and business owners in the state.
Governor Adeleke who was represented by his deputy, Prince Kola Adewusi at the flag off program held in Staff Development center hall, Osogbo, said he recognized the strength and vibrancy of small medium scale enterprises.
According to him, small medium scale enterprise are the backbone of the state economy which provides jobs, innovation and also sustained livelihood.
He, also promised to continue supporting their growth not just with mere words but with concrete vivid actions.
He said, “Our administration understand that the best of any society lies in the strength and vibrancy of it’s economy. Particularly, small medium scale enterprises, these enterprises are the backbone of our state economy in providing jobs, driving innovation and sustaining livelihood.
“Therefore, it is essential that we continue to support their growth, not only in words but in concrete actions. The Osun Micro Credit Agency has been a vital partner in our shared vision, of economy inclusivity.
” Since it’s first inception, the agency has provided financial support to thousands of entrepreneurs across the state enabling them to expand their businesses, create more job opportunities and contribute to the over all development of our community
“Today, with this additional 200M, we are reaffirming our commitment to building a vibrant entrepreneur ecosystem that foester innovation, resilience and sustainability.
“This fund is not just a number, it represents hope for many businesses that are have been constrained by the lack of access to capital”, he noted.
Adeleke, however assured that his administration, has listened to the voices of entrepreneurs in markets, artisans in their workshop and farmers in each rural community.
“We know that with the right support,they have the potential to transform their businesses and by extension transform our economy.
“Our government will also ensure transparency and accountability in disbursement of this funds, we will monitor the impact closely to make sure that every naira allocated is used effectively to achieve our goal of economy empowerment”, he added.
While speaking, the Commissioner for Cooperative and Empowerment, Hon. Bayo Ogungbangbe, explained that the program is targeted to create wealth in Osun state by reducing poverty level.
“As you can see, the program is targeted at the reduction of poverty level and creation of wealth in Osun state, the Governor in his wisdom, wishes and determined to stop this “gbomu Le lantan”, to enable all our traders to be self sufficient in taking the single digit interest low rate.
“It’s not a grant, it’s a revolving loan and there are measures attached to the assessment of the loan”, he said.
In an interview with newsmen, General Manager /Chief Executive Officer of Osun Micro Credit Agency, Mr Olagunju Taofeeq Adisa disclosed that over 3000 people will benefit from the loan scheme.
“We have the synergy and the capacity to access close to a billion from the Central bank of Nigeria but presently with the magnanimity of His Excellency, Senator Ademola Adeleke in making no stone unturned on economy stimulation in Osun stat, so as to boost the economy of the citizens, especially the customers of Osun Micro Credit Agency.
“His Excellency has added more N120,000,000 to the N200,000,000 which makes it N320,000,000, so that we will be able to reach out to small petty traders both men and women.
“Over 800 beneficiary are on our waiting list, immediately we have the way out to re access the micro small and medium enterprises development fund from the CBN, we will get out enmass to the business owners on Osun state. The flag off of today will cater for over 3000 beneficiaries”, he said.
One of the beneficiaries who spoke with our correspondent, Mr Akinola Adebayo Mandela said he received N500,000 loan and he believes that will grow his business to an extent before he will refund it
” I received N500,000, I believe it would have grown my business so an extent before the due date. I’m so grateful to the state Governor for the opportunity.
“May God bless him more and more”, he prayed.
