From Kolade Larewaju
ABEOKUTA – THE Federal Government would soon begin the disbursement of N500 Billion soft loans to small and medium scale businesses across the country as part of the effort of the current administration to fight poverty and boost economic activities.

Vice President Namadi Sambo, who  stated this on Saturday at the palace of the Alake of Egbaland; Oba Adedotun Aremu Gbadebo during a courtesy call on the paramount ruler said that the loans would attract single digit interest rate and would be disbursed by the Central Bank of Nigeria.

From left:The Governor of Ogun State Otunba Gbenga Daniel, the Vice President Architect Namadi Sambo, the Alake of Egbaland, Oba Adedotun Aremu Gbadebo and the Speaker of the House of Representatives, Hon Dimeji Bankole at the Place of the Egba Monarch when the vice President paid him a courtesy Call Saturday.

The Vice President who was accompanied to the palace by the Governor Olugbenga Daniel and the Speaker of the House Of Representatives; Mr. Dimeji Bankole said that the administration of Dr Goodluck Jonathan was determined to achieve greatness for the country saying the push to a make Nigeria one of the 20 most developed nations by the year 2020 was on course.

He said that appreciable progress was being made in the efforts to energize the power sector for optimum service delivery to the people of the country. He said his combination with the president will take Nigeria to the next level.

The vice President said he was surprised by the developmental strides achieved by the Ogun State Government acknowledging that the state had been transformed positively from what he saw when he last visited the State six years ago  .

“I see a complete transformation from what I saw six months ago when I came here as a consultant to work on the development of some key projects.  Otunba Daniel administration has done well for Ogun State.  I’m sure that the positive transformation would not have been possible without the support of traditional rulers including the Alake of Egbaland”.

The vice president also endorsed the ongoing effort to develop a deep sea port in the Olokola Free Trade Zone saying the project on completion would boost the economic development of the country. . He said the Federal Government has commenced the process that would lead to the construction of a light rail system   between Lagos and Oyo state and that because of the critical importance e of Ogun State; the light rail would pass through its major cities.

He described Ogun as a highly important state with the country’s highest number of higher institutions and commended the state government for continuing to use education to eradicate ignorance, fight poverty and promote employment generation.

Oba Gbadebo who welcomed the vice-president in company of his high chiefs described Dr Jonathan and his deputy as the best combination for the country and prayed for their success in all their future aspirations and endeavors.

The vice President was in Ogun State to attend the wedding of the daughter of the former President, Chief Olusegun Obasanjo.