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Monitor implementation of N200bn loan, funding for MSMEs, expert urges Tinubu

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2 years ago

Following the announcement of plans to rejig the nation’s economy, President Bola Tinubu has been urged to thoroughly monitor the implementation of N125bn funding for Micro, Small and Medium Enterprises (MSMEs) in the country.

The advice was given by real estate expert, Dr Babatunde Adeyemo, who also urged the president to extend thorough monitoring for the N75bn loan facility meant for 75 manufacturing enterprises at 9% per annum with a maximum of 60 months repayment for long-term loans and 12 months for working capital.

While noting that such moves will ease the hardships associated with the removal of fuel subsidy, Adeyemo warned the president against actions of beneficiaries who will take the funds as “their own portions of the national cake.”

Adeyemo, who is the CEO of Pelican Valley Nigeria Limited, stated this in Abeokuta, the Ogun State capital when he was honoured with the Yoruba Youth Humanitarian Icon of the Year 2023 award by the Yoruba Youth Assembly (YYA) as a result of his community-based service projects.

Adeyemo also urged the president to include youths and persons of integrity into his team to help drive his vision for Nigerians, implement, monitor and evaluate the palliative measures to ensure success.

At the event which was held in Abeokuta, the Ogun State capital, he further urged Yoruba youths to embrace integrity, patience, perseverance, enterprising spirit and avoid get-rich-quick impulses.

Speaking earlier, the President of YYA, Thomas Olarinde, described Adeyemo as a pragmatic leader in real estate practice whose humanitarian projects through the Oko Opo Foundation have impacted the lives of many.

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