Headlines

Governor Makinde Rolls Out N1bn Fund For SMEs Development Scheme

The Oyo State Governor, Seyi Makinde has launched a N1billion naira Micro, Small and Medium Enterprises (MSMEs) Development Scheme to fortify the state economy recovery.

Brandewsday gathered that the state government in its plan to intensify efforts to hasten the economic recovery of businesses in the state has inaugurated the N1 billion fund for the Micro, Small and Medium Enterprises (MSMEs).

Meanwhile, the intervention scheme is said to stimulate the local economy of the state and kick off the post-COVID-19 economic recovery plans.

Advertisement

According to a report by the News Agency of Nigeria (NAN), Governor Makinde handed over cheques to some beneficiaries on Friday.

Speaking while presenting cheques to some of the beneficiaries, the governor said that the scheme would not only stimulate the economy of the state but create more jobs for its teeming youths and make owners of small and micro-businesses be self-reliant.

Makinde urged all of the beneficiaries to make proper use of the loans, by abstaining from ventures and activities that could ruin their businesses and driving profitable structures and strategies.

Advertisement

The report revealed that several of the beneficiaries received different sums. For instance, Olarinde Olakunle received N2.5 million, while Ruth Adeniji and Taofeeq Oladimeji received N3 million each.

Olarinde Olakunle, who spoke on behalf of all the beneficiaries, thanked the government for the loan and promised that it would be put to judicious use.

In a similar vein, some state governments have equally dished out intervention packages for MSMEs in their states, as part of efforts to strengthen the local economy in preparation for the post-COVID-19 economy.

Advertisement
Facebook Comments
Adebayo

Adebayo is a Content Developer and website manager who loves to learn, unlearn and relearn. He has a knack for exploring the tech world. He is always thirsty to learn as the tech ecosystem evolves every day.

Recent Posts

Apple Unveils iPhone 17 Air, Slick, Slimmer Than Previous Models (PHOTOS)

Apple Inc is set to present a slimmer iPhone 17 Air model, marking a potential…

2 weeks ago

Six-Year-Old Ella Shoots, Kills American Police Officer In Mother’s Defense

A six-year-old girl, Ella, fatally shot a 28-year-old American police officer last month after witnessing…

2 weeks ago

LIRS Urges Taxpayers To Meet March 31 Deadline For Annual Tax Return Submission

The Lagos State Internal Revenue Service (LIRS) reminds all individual taxpayers, including self-employed individuals, those…

2 weeks ago

Stanbic IBTC Bank Partners Autochek To Boosts Car Ownership, Disburses N4Bn

Stanbic IBTC Bank, a prominent financial institution in Nigeria, has partnered with Autochek, an innovative…

3 weeks ago

Stanbic IBTC PMI®: Output Growth Accelerates To Fastest In Just Over One Year

The headline figure derived from the survey is the Stanbic IBTC PMI® - Purchasing Managers’…

3 weeks ago

Stanbic IBTC Bank Reintroduces Its Private Banking Offerings To Empower Nigerians Build Lasting Wealth

Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings and a leading financial service solutions…

3 weeks ago

This website uses cookies.