Disbursement of the Central Bank of Nigeria’s N6.5 billion Micro, Small and Medium Enterprises Development Fund (MSMEDF) has commenced on Wednesday in Osun State.
No fewer than 31, 888 businesses are said to have been earmarked as beneficiaries.
Osun State Governor, Gboyega Oyetola, flagged off the disbursement at the Freedom Park in Osogbo, the state capital.
He said the intervention funds are being jointly disbursed by the CBN and the Osun Government’s micro-credit agency.
“Since assumption of office, we have, in addition to our strategic investment in transforming the Agriculture, Tourism and Mining Sectors, focused attention on improving the performances of MSMEs. This is because we believe that a virile MSMEs space holds limitless opportunities for our State.
“We are convinced that when there is greater accessibility to funding, requisite infrastructure, an enabling environment devoid of common limitations and a political will to drive the requisite policies, our MSMEs would be empowered to spread their wings and fly. All these we have passionately put to work since we assume office.
“Other than the influx of new businesses and the significant growth of existing ones, there is no greater comfort that affirms the remarkable progress we are recording like the phenomenal rise we have recorded in Ease of Doing Bisiness Index.
“We are fully committed go working harder with you all in our quest to making our State an enviable business destination,” Oyetola was quoted to have said in a statement posted on Facebook by the state’s Commissioner for Information, Funke Egbemode
Oyetola advised qualified small business owners in the state to approach the Osun Micro-Credit Agency for possible enrolment in the next tranche of the MSMEs development funds.