The Ondo State Government has commenced the disbursement of N220m million to artisans and small business owners in order to boost their businesses and improve the economy of the State.
Governor Lucky Aiyedatiwa, while performing the symbolic presentation of cheques to the beneficiaries in Akure on Wednesday, acknowledged the influence of artisans, Micro, Small and Medium Enterprises (MSMEs) on the overall growth of the economy.
Olayide Adelami, deputy governor, who represented the governor, said the soft loan was one of his Government’s strategies to boost the economy of the State, charging the beneficiaries to be faithful with repayment.
He said, “This loan scheme is one of the strategies of our administration to tackle poverty, reduce unemployment and combat youth restiveness.
“Let me quickly state that the effective repayment of this loan would equally encourage our government to inject more funds into the scheme as it is our determination to enlarge its scope.”
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The governor further stated that his administration had invested massively in other areas of the economy.
He said apart from empowering the people with loans, his administration had demonstrated unwavering commitment to various policies, programmes and initiatives aimed at uplifting the people.
Adenike Ademujimi, the chairman of the state Micro Credit Agency, noted that Governor Aiyedatiwa prioritises the development of Medium, Small and Micro Enterprises (MSMEs) as a catalyst for economic growth.
She said the disbursement would be made to Groups and Associations in batches and urged the benefitting Groups to make prompt repayment.
On his part, Segun Ayerin, Commissioner for Commerce, Industries and Cooperative Services, who was represented by the Permanent Secretary in the Ministry, Toyin Oni, said the Government is open to engaging artisans and business owners with novel initiatives aimed at improving the economy.
