Business

Kwara boosts SMEs with N2.2bn

Kwara State Governor, Abdulfatah Ahmed has disclosed that his administration has spent about N2.25 billion to strengthen the capacity of Small and Medium Enterprises (SMEs) in the state.

He added that in view of his commitment to developing SMES, he earmarks a sum of N500 million yearly towards the scheme.

Governor Ahmed made the disclosure in Ilorin at the 2nd Annual General Meeting (AGM) of the Kwara state Coalition of Business and Professional Associations (KWACOBPA).

Represented by the state Commissioner for Commerce and Cooperatives, Alhaji Ahmed Rifun, the governor said “the spate of growth in the number of micro credit loan seekers in the state which includes viable cooperative groups paved way for the creation of the Kwara State Bureau of Micro, Small and Medium Enterprises (MSMEs).

This development is also complementing the Federal Government’s effort in assisting enterprenenurial development in the state.

“I must say, many activities have been going on since its establishment. The activities include youth empowerment scheme; agricultural loan and seedlings scheme; motor vehicle and motor cycle loan schemes. Indeed, this gave birth to the recently launched mass scheme to ease movements within the Ilorin metropolis.”

Governor Ahmed lamented that “businesses the world over are facing a turbulent and challenging times ranging from economic recession, security challenges, decaying infrastructure, skyrocketing foreign exchange regime to policy somersaults. To overcome this quagmire, all hands must be on desk to bring about the desired changes we want.”

In his remarks, KWACOBPA chair, Chief Hezekiah Adediji urged the state government to always involve the association in the disbursement of monies meant for SMEs in the state.

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