Governor Makinde inaugurates N1bn SMEs development scheme

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The Governor of Oyo State, Mr. Seyi Makinde has inaugurated N1 billion Oyo State Micro, Small and Medium Enterprises (MSMEs) Development Scheme, as part of interventions targeted at stimulating economy of the state.

Mr. Makinde said the scheme was part of the state’s post-COVID-19 economic recovery plans.

The governor, while carrying out the symbolic presentation of cheques to some of the beneficiaries, said the scheme would not only stimulate the economy of the state but create more jobs for its teeming youths and make owners of MSME to be self-reliant.

He urged all beneficiaries to make judicious use of the loan by abstaining from ventures and activities that could ruin their businesses.

The News Agency of Nigeria(NAN) reports that Olarinde Olakunle, Ruth Adeniji and Taofeeq Oladimeji were among the beneficiaries that received N2.5 million, N3 million and N3 million, respectively.

Speaking on behalf of the beneficiaries, Olakunle appreciated the Makinde-led administration for deeming it fit to provide them the loan and promised that the loan would be used judiciously.



About the author

Joseph Chukwuma Oputa

Joseph Chukwuma Oputa is the Managing Editor of Maslow Businessnews and Physicians News publications published by Maslow Business News Publications, Lagos, Nigeria.

Joseph Oputa is a proud Alumnus of the prestigious Nigerian Institute of Journalism, Lagos and Federal Polytechnic, Bida, Niger State.

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