In a bid to hasten the economic recovery of businesses in Oyo state, the state Governor, Seyi Makinde, has inaugurated a N1 Billion Micro, Small and Medium Enterprises (MSMEs) Development Scheme.
Makinde said the scheme 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 to 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.
The News Agency of Nigeria(NAN) reports that 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.