By Yinka Kolawole
KWARA State government said it has disbursed about N2.25 billion to boost the capacity of small and medium enterprises (SMEs) in the state over the past six years.
Governor Abdulfatah Ahmed disclosed this in Ilorin, at the 2nd annual general meeting (AGM) of Kwara State Coalition of Business and Professional Associations (KWACOBPA). He said his administration has earmarked N500 million yearly towards the development of the sector over the years.
Ahmed, who was represented by the state Commissioner for Commerce and Cooperatives, Alhaji Ahmed Rifun, said: “The spate of growth in the number of micro credit loan seekers in the state which includes viable cooperative groups paved way for the creation of the Kwara State Bureau of Micro, Small and Medium Enterprises (MSMEs). This development is also complementing the Federal Government’s effort in assisting entrepreneurial development in the state.
“I must say, many activities have been going on since its establishment. The activities include youth empowerment scheme; agricultural loan and seedlings scheme; motor vehicle and motor cycle loan schemes. Indeed, this gave birth to the recently launched mass transit scheme to ease movements within the Ilorin metropolis. Businesses the world over are facing a turbulent and challenging times ranging from economic recession, security challenges, decaying infrastructure, skyrocketing foreign exchange regime to policy somersaults.”