Nigeria: Osun disbursed N4b to MSMEs in six years
Osogbo, November 7, 2018 (AltAfrica)-Osun State government, South-West Nigeria has disbursed over N4 billion to Micro, Small and Medium Enterprises (MSMEs) in the state.
The Commissioner for Commerce, Industries, Cooperatives and Empowerment, Mr. Ismaila Jayeoba-Alagbada, stated this at a press conference in Osogbo on Tuesday
“Through effective and efficient credit administration and management, the initial fund released to the agency by the state government and that from the Central Bank of Nigeria (CBN) have been serially revolved and have grown to N4,536,035,000. As at September 2018, a total of 27,352 MSMEs, made up of seven sectors, had benefitted from the credit facilities of the agency,” he said.
The number of MSMEs in the state increased by 182 per cent in the last seven and half years due to efforts by the outgoing Governor Rauf Aregbesola’s administration to revamp the economy and boost the state’s Gross Domestic Product (GDP), he added.
Alagbada noted the contributions of the agency in providing the needed support to business owners.
He said: “This conference is called to elucidate, for record and posterity purposes, key poverty alleviation programmes of the Osun State government in the eight years of the administration of Aregbesola. The landmark achievement of the administration is a watershed in the history of the state. In eight years, the state witnessed monumental, visible and enduring achievements in every sector of its economy.”