Ondo State Government has initiated the disbursement of two hundred and twenty million Naira (N220 million) to artisans and small business owners across the state.
In a statement shared on his X page on Wednesday, State Deputy Governor Olayide Adelami said this initiative aims to bolster small-scale businesses and enhance the state’s economy.
During a symbolic cheque presentation ceremony held in Akure on Tuesday, Mr Adelami, who represented Governor Lucky Aiyedatiwa, acknowledged the significant role that artisans and Micro, Small, and Medium Enterprises (MSMEs) play in the overall economic growth of the region.
He noted that this soft loan is part of the government’s broader strategy to stimulate the state’s economy and urged beneficiaries to ensure timely repayment.
“This loan scheme is one of the strategies of our administration to tackle poverty, reduce unemployment and combat youth restiveness. Let me quickly state that the effective repayment of this loan would equally encourage our government to inject more funds into the scheme as we determine to enlarge its scope” he reiterated.
The Deputy Governor highlighted that the Aiyedatiwa administration has made significant investments across various sectors of the economy.
He added that, in addition to empowering citizens through loans, the administration has shown a steadfast commitment to implementing policies, programs, and initiatives designed to uplift the community.
Adenike Ademujimi, Chairman of the State Micro Credit Agency, stated that Governor Aiyedatiwa prioritizes the development of Medium, Small, and Micro Enterprises (MSMEs) as a vital driver of economic growth.
She announced that disbursements would occur in batches to groups and associations, urging recipients to ensure timely repayment.
Segun Ayerin, the State Commissioner for Commerce, Industries, and Cooperative Services, represented by Permanent Secretary Toyin Oni, noted that the government is eager to engage artisans and business owners through innovative initiatives aimed at enhancing the economy.
Daisi Komolafe, the Senior Special Assistant to the Governor on Artisan Matters, expressed gratitude to the governor for this initiative and assured him that the government would receive prompt repayment of the loans.
“We are appreciative of Mr Governor’s kind gesture and fully align with his plans for artisans and business owners in the state. We have a register of over three hundred thousand members of various artisan groups, and we will surely vote for the All Progressives Congress (APC) in the November 16 governorship election,” Komolafe said.
