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Osun gives N821m soft loans to artisans, SMEs

Osun State government said it has approved soft loans amounting to N821.335 million to traders, artisans, small-scale enterprise and business owners across the state through the State Micro Credit Agency.

The State Commissioner for Commerce, Industry and Cooperatives, Mr. Ismail Adekunle Jayeoba-Alagbada, who disclosed this in a statement, noted that the loan is the 2017 edition of similar loan facilities that have been given by the government to boost the economy and small scale enterprises in the state.

He gave a breakdown of similar facilities that were provided in the past as N662 million in 2014; N1.496 billion in 2015 and N681 million in 2016. The commissioner noted that after the disbursement of the new loans, no fewer than 24,850 traders, small scale enterprise and business owners would have benefitted from the facilities, amounting to about N3.7 billion in total.

Jayeoba-Alagbada said the facilities were made possible following a take-off capital of N2.1 billion secured from the Central Bank of Nigeria (CBN) for the Osun State Micro Credit Agency

He stated: “11, 391 beneficiaries from commerce were given N1. 677 billion; 9, 100 beneficiaries from agriculture sector were given N1.34 billion; while 2,552 manufacturers were provided N375.7 million. 1, 379 artisans were given N204.54 million; 233 people from education sector got a sum of N34.4 million; while 195 people from health sector obtained N28.54 million.”



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