Governor Adegboyega Oyetola of Osun State on Wednesday flagged off the disbursement of Micro, Small and Medium Enterprises Development Fund for business.
A total of 31,888 beneficiaries are set to benefit from the Central Bank of Nigeria and Osun State government intervention funds.
Oyetola described the N6.5 billion intervention fund as part of his administration’s development agenda of revitalising Osun’s economy for much improved performance.
At the flag-off ceremony by the Osun Micro-Credit Agency, at Freedom Park, Osogbo, Oyetola lauded Micro, Small and Medium Enterprises in the state, describing them as a critical part of his administration’s diversification agenda owing to their enormous productivity and capacity for value and job creation.
“Since assumption of office, we have, in addition to our strategic investment in transforming the Agriculture, Tourism and Mining Sectors, focused attention on improving the performances of MSMEs. This is because we believe that a virile MSMEs space holds limitless opportunities for our state.
“We are convinced that when there is greater accessibility to funding, requisite infrastructure, an enabling environment devoid of common limitations and a political will to drive the requisite policies, our MSMEs would be empowered to spread their wings and fly. All these we have passionately put to work since we assume office.
“Other than the influx of new businesses and the significant growth of existing ones, there is no greater comfort that affirms the remarkable progress we are recording like the phenomenal rise we have recorded in Ease of Doing Bisiness Index.
“We are fully committed to working harder with you all in our quest to making our state an enviable business destination,” Oyetola said.
Oyetola also called on other citizens who fall within the classification of Small and Medium Enterprise businesses and are interested in the fund, to approach Osun Micro-Credit Agency for possible enrolment in the next tranche of the MSMEs development funds.
He assured that his administration would continue to ensure that Osun Micro-Credit Agency fulfilled its objectives of motivating locally-based producers of goods and services, developing entrepreneurial skills, stimulating economic activities and raising the level of productivity of the people, thereby reducing unemployment through provision of revolving loans for market women, artisans, farmers and other creative talents in the state.