Makinde Flags Off Oyo One Billion Naira MSME Development Scheme

 Makinde Flags Off Oyo One Billion Naira MSME Development Scheme

Oyo State Governor, Engr Seyi Makinde, has flagged off a one billion naira State Micro, Small and Medium Enterprises Development Scheme, as part of interventions targeted at stimulating the economy of the State after the COVID-19 pandemic.

The Governor, while presenting symbolic cheques to some beneficiaries of the Scheme at the Government House, Agodi, Ibadan, said the Scheme will stimulate the economy of the State and create more jobs for its teeming youths; adding that the Scheme will also make small and medium enterprises to be self-reliant.

Engr Makinde, according to a statement by his Chief Press Secretary, Mr Taiwo Adisa, on Friday, June 19, 2020, said the Scheme is part of the State’s post-COVID-19 economic recovery plan.

He said: “We are well aware that even though we did not effect a total lockdown in Oyo State, many MSMEs have suffered and are still suffering because of the partial lockdown. I have mentioned some Private Schools and Businesses that depend on them; they have food vendors and the rest of them. They have all suffered under the partial lockdown. Night clubs, event centres are dependants too and they have also not been unable to make any earning.”

The Governor, therefore, urged all the beneficiaries to make use of the loan judiciously and to abstain from ventures, activities that can ruin their businesses.

Some of the beneficiaries who got the cheques included; Mr Olarinde Olakunle, who received 2.5 million naira; Adeniji Ruth Fausat and Oladimeji Taofeeq, who got 3 million naira each.

Speaking on behalf of the beneficiaries, Mr Olakunle appreciated the Makinde-led administration for deeming it fit to provide them the loan, promising that the loan will be used judiciously.

Some of the dignitaries at the event included the deputy Governor, Engr Rauf Olaniyan; the Secretary to the State Government, Mrs. Olubamiwo Adeosun; the Commissioner for Agriculture, Hon. Jacob Ojemuyiwa; Commissioner for Commerce, Hon. Niyi Adebisi; his Finance counterpart, Mr Akinola Ojo; and the Director-General, Oyo State Investment and Public Private Agency, Hon. Segun Ogunwuyi, among others.


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