To boost Small and Medium-scale Enterprises (SMEs) in Ondo State, 21 traders, market women, associations, groups and cooperatives societies have obtained N166 million soft loan from the Ondo State government through the state micro-credit agency.
At the disbursement centre in Idi-Agba Titun, Akure, Governor Oluwarotimi Akeredolu said the scheme was to assist the unemployed but productive poor in the state to become self-reliant.
Akeredolu said aside assisting the small and medium scale enterprise, the scheme was put in place to make fund easily accessible to people without stringent conditions normally posed by conventional banks.
According to him, the sum of N57m was disbursed by the state micro credit agency to market women, trade groups and individual entrepreneurs in the state to further demonstrate the current administration’s commitment towards wealth creation and economic empowerment of its people.
This measure, he said, was part of his administration’s efforts to tackle poverty, banish hunger and create wealth in the state.
He noted that the challenges facing governments of most developing countries, including Nigeria, was poverty reduction.
The governor said his administration was conscious of this fact and has, therefore, not relented in putting in place various poverty reduction programmes, including micro credit loans for the benefit of our people.
This, according to him, was to improve their socio-economic well-being to achieve sustainable livelihood.
Akeredolu advised beneficiaries to make judicious use of the credit facilities by investing it in productive venture and to see the loan as a facility to be paid back.
He reiterated the commitment of his administration towards delivering benefits of good governance to the greatest number of people of the state, and appealed to people to show understanding by reciprocating government’s kind gestures.