Ogun To Set Up Fund To Support Small Medium Enterprises - EDU-BIZNEWS


Wednesday, April 7, 2021

Ogun To Set Up Fund To Support Small Medium Enterprises

Ogun State Government has unfolded its plan to launch a technology-based innovation fund, to make credit facilities easily available to owners of Micro, Small and Medium Enterprises (MSMEs) in the state

The government also assured business owners that the ongoing construction of Atan -Lusada- Agbara Road would be completed within the next two weeks.

Governor Dapo Abiodun who made this known at the opening ceremony of the 10th Gateway International Trade Fair, tagged, "Transforming Agriculture and Commerce in a Highly Competitive Global Market", at the Trade Fair Complex, Oke-Mosan, Abeokuta, said the intervention was part of the State government’s effort to fast-track economic growth.

Abiodun added  that the State was also developing MSMSEs clusters across the State that would be provided with the needed infrastructure like roads, drainage, power, fiber optics to offer attractive pricing and flexible payment terms, to further encourage them.

"We will soon be launching the Ogun MSMEs development fund, to be known as Tech-based MSMEs, to provide easier credit facilities. We are also paying attention to rural roads, to boost agriculture and development in this regard, while the flag-off of the construction of Atan -Lusada- Agbara road will be done in the next two weeks, he assured.

 He said it was time for the country to explore other sectors of the economy, such as agriculture, trade and manufacturing, with needed attention, adding that it would go a long way in making it viable and sustainable.

The Governor who noted that the Gateway Fair had over the years contributed to the economic and industrial growth of the State and the nation at large, expressed hope that the 2021 edition, would also serve as an avenue to cross-fertilise ideas, which would bring about the diversification agenda to help address the nation's economic challenges.

 Abiodun also re-emphasised his administration's commitment towards promoting a private sector-driven economy, re-assuring  prospective and existing foreign, as well as local investors' preparedness to continue putting in place necessary machinery for sustaining the socio-economic development of the State.

Speaking earlier, Commissioner for Industry, Trade and Investment, Mrs. Kikelomo Longe, said trade fairs were held around the world to showcase variety of products and services, and to launch recent inventions, adding that the State would explore the opportunities offered by the Fair to propagate the administration's efforts at attracting more investors.

 Contributing, his counterpart in the Agriculture Ministry, Dr. Adeola Odedina said that agriculture was the major supplier of raw materials to industries, saying the State was leading in the production of cassava, poultry, eggs and vegetables in the country.

President, Ogun State Chambers of Commerce, Industry, Mines and Agriculture (OGUNCCIMA), Alhaji  Babatunde Olaleye, welcoming visitors during the event, lauded the present administration for engaging the Organised Private Sector (OPS) in policy formulation

Olaleye opined that it was time for Nigeria to leverage on the African Continental Free Trade Agreement (AfCFTA), by exposing her manufacturing and non-oil sectors to the outside world

He added that the Agreement had opened window of opportunities for  the country to enhance her status as the economic giant of Africa.

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