Arrangements have been
concluded by the Oyo State government for the release of N2 billion
intervention fund from the Central Bank of Nigeria (CBN), which is meant
to support Small and Medium Enterprises (SMEs) in the state.
According to Governor Abiola
Ajimobi, the N2 billion intervention fund is being processed by the
state and very soon the fund would be ready, as the purpose of the
intervention fund is to aid SMEs growth in the state.
Ajimobi, who was represented by
Olalekan Ali, secretary to the state government, at a one-day synergy
conference held at Lead City University Ibadan, said the state
government was ready to give lands free of charge to any one wanting to
set up micro, small and medium enterprise.
The move by the government, he
said, is to create job for the people and get more internally generated
revenue (IGR) in the state.
To help grow the industries, he
disclosed that the state government had created industrial estates and
free trade zones. While stating the importance of peace to sustainable
economic development in any society, he noted that “peace is central to
the growth and development of every economy.”
Ajimobi, who urged the Federal
Government to improve power supply to the state and the whole nation,
stressed that “power supply is still unstable but it is beyond the state
government capacity.”
He further stated that “we
therefore call on the Federal Government to step up its effort to
improve on the sector.” The present administration, he revealed, is in
talks with private investors to explore every avenue that will aid power
stability so that industries can grow at an appreciable rate.
Lead University partnered the
state Ministry of Industry, Applied Science and Technology, and
International Centre for Leadership and Entrepreneur Development to
stage the conference.
Speaking with journalists,
Olajumoke Familoni, director of consultancy services, Lead City
University, said the conference would develop a model expected to bring
together entrepreneurial agencies and SMEs in Nigeria.
According to her, the thrust of
the conference is to develop a model for synergy between entrepreneurial
agencies and SMEs in Nigeria, and the target is to expose participants
to wide range of avenues that can be utilised to alleviate poverty in
the country.
REMI FEYISIPO
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