The Otun Akogun Onisowo of Ibadanland, Chief Olufemi Junaid, expressed his belief that the N500 million loan package for traders and small and medium-scale enterprises (SMEs) from the Governor Seyi Makinde administration would significantly rejuvenate businesses, especially those struggling in the state.
The N500 million loan is a crucial component of the Sustainable Actions for Economic Recovery (SAfER) initiative introduced by the Makinde administration to mitigate the impact of fuel subsidy removal and the exchange rate fluctuation.
This loan, available through seven designated microfinance banks, offers a single-digit interest rate and a flexible repayment plan, catering to various categories of micro and small-scale business owners.
In a statement, Junaid hailed this loan as the fairest initiative in the history of Oyo State.
He emphasised that it showcases sensitivity, especially considering the challenges Nigerians face due to the subsidy removal.
Junaid urged the officials responsible for the loan disbursement to uphold credibility and avoid any form of favouritism, partisanship, or bias during the allocation process.
Furthermore, he encouraged beneficiaries to repay the loan promptly, emphasising that this timely repayment is essential for economic progress and the sustainable development of the state.
YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE
God said you must not marry more wives, Gbile Akanni warns new Soun of Ogbomosho
Founder of Peace House, Bro Gbile Akanni has sent a stern warning to the newly installed Soun of…
How Nigeria can work again, Adebanjo, others speak
Some of the critical issues that engaged the leaders, one of whom was among…
We’ve not lifted visa ban on Nigeria — UAE
The United Arab Emirates has contradicted claims by the Nigerian government that it is to lift a year-long visa ban on…
Five ways to cope with September floods
September is the month for heavy rainfall. Already, there are alerts from government agencies on likely flooding between…
#BBNaijaAllStars: Kim Oprah predicts top 3 finalists
Evicted Big Brother Naija house guest, Kim Oprah has predicted the finalists for the ongoing ‘All Stars’ edition of…
LALIGA unveils vision for Africa, introduces new managing director
LALIGA, the world-renowned Spanish football league, took a significant stride towards its commitment to Africa by…
and then