Governor Abdulfatah Ahmed of Kwara State has said his administration earmarks a sum of N500 million yearly towards strengthening capacity of small and medium enterprises (SMEs) in the state.
According Ahmed, in view of importance attached to developing SMEs, his administration has spent about N2.25 billion so far.
Governor Ahmed disclosed the expenditure in Ilorin, the state capital 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. In deed, 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 a remarks, KWACOBPA chair, Chief Hezekiah Adediji urged the state government to always involve the association in the disbursement of monies meant to SMEs in the state.