The Micro, Small and Medium Enterprises (MSMEs) in Ogun State are to enjoy more facilities tailored towards accessing credit loans and other logistics, through a research-driven approach that would enhance their operations.
Commissioner for Industry, Trade and Investment, Mrs. Kikelomo Longe made this known in Abeokuta, during a meeting with the German Cooperation, Deutsche Gesellschaft fur Internationale Zusammenarbeit (GIZ), and other relevant stakeholders.
Mrs. Longe affirmed that government has also re-energised the Ogun State Agricultural and Multipurpose Credit Agency (OSAMCA) to give loans, just as it is ensuring that the Bank of Industry revolving loans are available for entrepreneurs at a subsidised rate of seven percent.
According to her, government is partnering with the Nigerian Export Promotion Council (NEPC) while efforts are in top gear to establish Economic Development Clusters and the development of a Cargo airport all in the bid to better the lot of MSMEs in the State.
The Commissioner disclosed that the Prince Dapo Abiodun-led administration is synergising with GIZ to develop a more deliberate approach to enable MSMEs grow optimally, adding that government will validate the results gathered in the course of the research.
Also speaking, the Chairman, OSAMCA, Hon. Abayomi Hunye lauded GIZ for promoting the provision of credit facilities to entrepreneurs in the State, stressing that his Agency had been contributing to the growth of MSMEs through provision of credit facilities to applicants at favourable terms.
Earlier, the Head of Components Policy and Strategy, GIZ-SEDIN, Mr. Akin Omoware gave kudos to the State government for the level of growth of MSMEs, saying the programme would enable GIZ validate its report, which would in turn bring about a more improved MSMEs sub-sector.