Gov. Seyi Makinde has flagged off N1 billion Oyo State Micro, Small and Medium Enterprises (MSMEs) Development Scheme as part of interventions targeted at stimulating the economy of the state, post COVID-19 pandemic.
Makinde said the flag-off of the scheme, which took place in Ibadan on Friday, 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 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.
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.