By Demola Akinyemi, Ilorin

Business owners in Kwara state have cautioned government agencies against releasing loans to their members through the backdoor,a development they claim often results in non-repayment of such loans to the detriment of other members.

The Stakeholders, which comprise ARTISAN Congress,NANO, and NASME, among others, spoke on the sidelines of the ongoing Presidential loans, which were brought for the benefits of business owners in Kwara state through the Bank of Industry (BOI).

While speaking at a stakeholder meeting on the Presidential Grants and Loans Scheme For MSMEs in Ilọrin, on Friday State President of ARTISAN Congress Alhaji Jimoh Adesina whose members are over 1.5 millions across the sixteen local governments, commended President Bola Ahmed Tinubu and Governor AbdulRahman AbdulRazaq for their efforts to stimulate businesses of his members in the state, assuring that loans released to members through the union would be recovered.

“We comprise of 80 different associations,and our members are over 60% of the total population in the state,we are over 1.5 million.I am assuring President Tinubu that our members will utilise the loans to improve their businesses,and it’s our duties as leaders in the union to ensure that such loans are repaid,so that everyone will eventually benefit.

“Its when loans are given through the backdoor and not through the union that such loans are not repaid,so loans should always be released through unions leadership.”he said.

For his part,the state Vice Chairman of National Association of Small and Medium Enterprisesl Alh Babatunde Aremu Arilewola said the association is a strategic partner with the state government in every of its decision making process.

Arilewola said his association was in partnership with the state government in Kwarapreneur program from 1-5, stressing that he believed in mutually beneficial relationship.

He said the initial grant of N50,000 to his members who thought they won’t be given actually helped them a lot in their various businesses.

He also urged governments at all levels to desist from granting loans to members of groups and associations without passing through the leadership, stressing that many of such loans are not always recovered at the expense of other members.

“There’s no way loans will be channelled through unions leadership that it won’t be recovered, particularly when such loan doesn’t capture everyone at first.So,our duties is to track our members and ensure that they pay the loan so that other members who are waiting can also benefit.

“We registered over 150,000 members across the sixteen local governments in our, database .So,it’s easy for us to liaise with any agency,to access loans for our members.

“Any government that is genuinely interested in stimulating the economy through loans to small and medium size businesses should stop avoiding the leadership,and be giving loans to people through the backdoor.”

Arilewola who said the inclusion of Nano traders into the scheme is commendable.noted that the previous grants and loans have assisted business owners and artisans to expand their businesses .

He also appealed to the federal government to open the Chikanda Border to ease business activities in the state.

In his address the Chairman of the Nigerian Association of Small Scale Industrialist ,Kwara state Chapter,Olawoyin Solomon said the purpose of the scheme is to raise the capacity of Small Industrialists in the state.
He said the small business owners and artisans are being educated on how to access the loans and grow their business.

Solomon advised those who secure the loan to ensure prompt re-payment to enable others benefit.

In his presentation ,the Guest Speaker from the Bank of Industry,Mr Harrison Isaac said the federal government has introduced additional 75 billion naira into the scheme to grow the nation’s economy.

He said those who are interested in starting a trade,expand the existing one or upgrade the business are eligible to secure the loan.

Mr Isaac urged the state government to also assist those who are into manufacturing, processing and value addition to access the loans to boost the state economy.

The governor’s representative at the event said that the state government would collaborate with the Bank of Industry to ensure federal government interventions have sustainable impact on the people of the state.

Represented by the focal person on Small and Medium Enterprise,Dr Lawal Olohungbebe , governor AbdulRazq said the beneficiaries of the interventions need to be increased.

He advised the bank of industry to convene a stakeholders engagement to enlighten the residents on how to secure the grant.

AbdulRazq also urged traders and artisans to ensure they use the facility granted them to grow their business to an enviable level.

He thanked the federal government and bank of industry for the introduction of the scheme to assist the small business owners.