The OGUN State administration has announced a N900 million credit scheme for the state’s Micro, Small and Medium Enterprises.
During a virtual quarterly stakeholders’ engagement meeting, the Commissioner for Industry, Trade, and Investment, Mrs Kikelomo Longe, revealed this.
According to her, the loan is a partnership between the state government and the National Association of Microfinance Banks, and it is available at microfinance banks throughout the state.
She said, “I am happy to inform you that the National Association of Microfinance Banks has made the sum of N900m available in the form of a special lending product to entrepreneurs operating in Ogun State.”
The lending facility was designed to complement other funding alternatives in the state, such as the N1 billion Ogun State Government–Bank of Industry loan and the Ogun State Agricultural and Multipurpose Credit Agency credit facility, as well as the recent MSMEs Business Clinic.
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