…as 5,000 beneficiaries receive micro-credit facilities
Osun State Governor, Adegboyega Oyetola, on Wednesday, flagged off the disbursement of N300,000,000 micro-credit facilities to citizens.
He said his administration would continue to make strenuous efforts to stimulate the state’s economy and create wealth for the benefit of the masses and incoming generations as contained in the government‘s Development Agenda.
Oyetola said the noble economic initiative is in line with his resolve to place the state on a sustainable socioeconomic footing and steadily reduce the poverty rate and income inequalities among citizens.
This is even as over 5,000 micro and small-scale entrepreneurs received soft loans ranging from N250,000 to N3million and over 6000 residents received certificates of incorporation having been freely registered by the Corporate Affairs Commission (CAC).
The fund is part of the interventions of the Federal Government to the State through the Central Bank of Nigeria (CBN) aimed to raise the bar of socioeconomic activities in the State.
Recall that the government March last year granted N20,000 to 3,000 vulnerable Osun rural women across the 30 Local Government Areas and the funds were distributed in line with the equitable programs and projects distribution model of the administration.
Speaking at the Year 2022 Medium, Small and Micro Enterprises Development Fund, held at Nelson Mandela Freedom Park, Osogbo, Governor Adegboyega Oyetola said the State had injected a whopping Two Billion, Three Hundred and Seventy Million, Nine Hundred and NiNinety-Fivenaira (N2,370,995,000.00) into the economy of the State and that 4,646 micro and small scale entrepreneurs had benefitted across the State.
He disclosed that the State Government in collaboration with Osun Micro Credit Agency had disbursed the sum of One Hundred and NiNinety-Nineillion, Four Hundred and Twenty Thousand Naira (N199, 420, 000) to more than 1,000 beneficiaries since coming into office.
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