GOVERNOR of Ondo State, Lucky Aiyedatiwa, has commenced the disbursement of a sum of N220 million to artisans and micro, small, and medium enterprise owners in the state.
The development was said to be part of the state government’s initiative to boost small-scale businesses and improve the economy of the state.
At the presentation of cheques to the beneficiaries in Akure on Tuesday, the governor said the artisans were important in the overall growth of the economy.
Aiyedatiwa, who was represented by his deputy, Dr Olayide Adelami, said the soft loan was one of his government’s 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 it is our determination to enlarge its scope.”
Apart from empowering the people with loans, the governor explained that his administration had demonstrated unwavering commitment to various policies, programmes, 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 governor stated.
Chairman of the state Micro Credit Agency, Mr Adenike Ademujimi, said that Aiyedatiwa prioritises the development of 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.
