As part of efforts to boost small-scale businesses and improve the economy, the Ondo state government, on Tuesday, commenced the disbursement of N220m to artisans and small business owners in the state.
The state governor, Lucky Aiyedatiwa, during the presentation of cheques to beneficiaries, acknowledged the influence of artisans and micro, Small, and Medium Enterprises (MSMEs) on the overall growth of the economy.
Aiyedatiwa who was represented by his deputy, Olayide Adelami, said the soft loan is one of his administration strategies to boost the economy of the state, charging the beneficiaries to be faithful with repayment.
He said, “This loan scheme is one of the strategies of our administration to tackle poverty, reduce unemployment, and combat youth restiveness.
“Let me quickly state that the effective repayment of this loan would equally encourage our government to inject more funds into the scheme as we determine to enlarge its scope”
The governor, who disclosed that his administration has invested massively in other areas of the economy, said apart from empowering the people with loans, his administration has demonstrated unwavering commitment to various policies, programs, and initiatives aimed at uplifting the people.
“Our agriculture and food security programme; and business stimulation components were designed as solutions to some of the economic challenges.
“In the education sector, we have almost concluded the process of recruitment of about 2,000 teachers for both public primary and secondary schools to enhance qualitative and quantitative education for our children.
“The recruitment of teachers would definitely guarantee effective teaching and learning for our children.
“Recently, more than 11,200 students of Ondo state origin in tertiary institutions also benefited from scholarship and bursary awards; and financial assistance from our government. This has brought relief to both the students and their parents”
The Chairman of the state Micro Credit Agency, Adenike Ademujimi, said that Governor Aiyedatiwa has been giving priority to the development of Medium, Small, and Micro Enterprises (MSMEs) as a catalyst for economic growth.
She said the disbursement would be made to groups and associations in batches and urged the benefitting groups to make prompt repayment.
The state commissioner for commerce, industries, and cooperative services, Segun Ayerin, who was represented by the permanent secretary in the ministry, Toyin Oni, said the government is open to engaging artisans and business owners and novel initiatives aimed at improving the economy.
The Senior Special Assistant to the Governor on Artisan Matters, Daisi Komolafe, thanked the governor for the gesture, assuring the government of quick repayment of the loan.
“We are appreciative of Mr Governor’s kind gesture and fully align with his plans for artisans and business owners in the state. We have a register of over three hundred thousand members of various artisan groups, and we will surely vote for the All Progressives Congress (APC) in the November 16 governorship election,” Komolafe submitted.
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