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Ondo begins disbursement of N220m soft loan to artisans, entrepreneurs

Published

2 years ago

Governor of Ondo State, Lucky Aiyedatiwa, has commenced the disbursement of a sum of N220 million to artisans and micro, small and medium enterprise owners in the state.

The development was said to be part of the state government’s initiative to boost small-scale businesses and improve the economy of the state.

At the presentation of cheques to the beneficiaries in Akure on Tuesday, the governor said the artisans, were important in the overall growth of the economy.

Aiyedatiwa, who was represented by his deputy, Dr Olayide Adelami, said the soft loan was one of his government’s strategies to boost the economy of the state, charging the beneficiaries to be faithful with repayment.

He said, “This loan scheme is one of the strategies of our administration to tackle poverty, reduce unemployment and combat youth restiveness. Let me quickly state that the effective repayment of this loan would equally encourage our government to inject more funds into the scheme as it is our determination to enlarge its scope.”

Apart from empowering the people with loans, the governor explained that his administration had demonstrated unwavering commitment to various policies, programmes and initiatives aimed at uplifting the people.

“Our agriculture and food security programme; and business stimulation components were designed as solutions to some of the economic challenges.