Mrs Iyabo Ojogbede, the Oyo State Manager of Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), says the agency trained more than 500 entrepreneurs in the state in 2019 to improve their productivity.
Ojogbede stated this in Ibadan on Tuesday while speaking on the agency’s activities in 2019.
She said there were numerous platforms provided for people in the state to enhance their businesses as well as boost economic opportunities.
” After the training, we do empower the entrepreneurs by giving them equipment to start their businesses.
“As for the existing businesses, most times they complain to us about their need for workspace.
“Even cooperative groups are catered for; we provide them with workspace through this programme called One Local Government One Product Scheme (OLP).
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“We provide workspace, capital and equipment to each cooperative we disbursed funds to; we give 70 per cent of loan and 30 per cent grant for each cooperative and there is no interest in it.
” Through CBN’s Agricultural Business Small Medium Enterprises Investment Scheme loan, we have been training entrepreneurs in our agency,” she said.
Ojogbede noted that most applications received for the CBN loan had been forwarded to NIRSAL Microfinance Bank saddled with the disbursement of funds.
She further stated that funds had been disbursed to about 55 per cent of the applicants out of the 355 entrepreneurs that applied for loans in the state.
(NAN)
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