500 Million SMEs Loan: Fairest Initiative So Far In Oyo State — Olufemi Junaid Lauds Makinde
By Editor
2 min read
The Otun Akogun Onisowo of Ibadanland, Chief Olufemi Olawale Junaid has stated that the loan relief package to traders is fairest initiative so far in the history of Oyo State.
Chief Junaid made the statement available to pressmen on Thursday, commended the administration of Engr Seyi Makinde for its sensitivity on excruciating pains fuel subsidy removal has triggered in the country.
Chief Olufemi noted that the loan initiative rolled out by Governor Makinde would in no small restore dying away businesses in the state.
The Akogun Onisowo of Ibadanland added that good administration of Seyi Makinde has become a mirror in the country, from the 2019 Covid-19 era which from then has helped to build human capacity.
Chief Olufemi Junaid while commending Governor Makinde, charged the officials in charge of the loan disbursement to maintain credibility, with total non-favouritism nor partisan disbursement being a usual slogan of the governor.
Meanwhile, the Akogun Onisowo of Ibadanland urged the intending beneficiaries to promptly repay for economy sustenance in the state.
Recall, Oyo State government has on Tuesday concluded plans to empower traders, artisans and other small business owners with N500m as part of efforts to mitigating the effects of subsidy removal on the residents of the State.
The N500million loan single-digit interest rate and with a flexible repayment plan is for all categories of micro and small-scale business owners which is a component of the Sustainable Actions for Economic Recovery (SAfER) was initiated by Governor Seyi Makinde, FNSE in the wake of fuel subsidy removal and the floating of the exchange rate, which resulted in a steep rise in prices of commodities with a view to stabilizing the people and boosting the economy.
