OGUN DISBURSES N420M TO SMALL AND MEDIUM SCALE ENTERPRISES In pursuance of its determination to alleviate poverty and empower its people, the Ogun State government has disbursed a total of N420m to 485 beneficiaries under the State government and Bank of Industry N1bn loan scheme. The Commissioner for Commerce and Industry, Otunba Bimbo Ashiru disclosed this while speaking during the presentation of cheques to the 3rd batch of beneficiaries under the scheme at the Trade fair complex hall, Oke-Mosan, Abeokuta. Otunba Ashiru explained that the distribution of the cheques to beneficiaries comprised 140 individuals from 14 cooperatives was a confirmation of government commitment to enhance the industrialization process by funding micro, small and medium enterprises. He said Senator Ibikunle Amosun administration is totally committed to the scheme as the governor has promised to inject more capital once the present fund was exhausted, adding that the number of applicants have increased greatly as many doubting Thomas’s now realize that it is indeed for real. Ashiru noted that since the scheme started, no default has been recorded adding that new beneficiaries should use the fund judiciously and ensure prompt repayment of loans to allow others benefit. Earlier in his address, the representative of the Bank of Industry, Mr. Raymond Adenuga commended government’s commitment to the scheme noting that the gesture has contributed greatly to the success of the scheme in the state. He advised the beneficiaries to reciprocate the government and BOI gesture by adhering strictly to the loan repayment schedule. Responding on behalf of the beneficiaries, Prince Segun Onabolu and Mrs. Bernice Rowaiye thanked the government for making the loan disbursement possible claiming to be one of those that were initially skeptical about the scheme until they received their cheques.
Posted on: Tue, 23 Jul 2013 07:19:55 +0000
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