Ogun Agric Cooperative Grants Loan To MSMEs

The Ogun State Agricultural and Multipurpose Credit Agency (OSAMCA) has commenced another round of loan disbursement to qualified Micro, Small and Medium Enterprises (MSMEs).

This is even as it launched the Dapo Abiodun Kiosk Empowerment to aid the growth of businesses in the State.

The first 50 beneficiaries of the revolving loan who were presented cheques by governor Dapo Abiodun, during the opening ceremony of the 12th Gateway International Trade Fair held in Abeokuta, Ogun state recently, got loans ranging from N200,000 to N1.5million just as the agency also revealed its target of training 12,000 youths across the State with requisite skills-set through the Dapo Abiodun Skill Acquisition Programme.

Abiodun, represented by his deputy, Engr. Noimot Salako-Oyedele, stated that, his administration remained committed to the development of businesses, including the Micro, Small and Medium Enterprises (MSMEs).

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The governor added that his administration had created an enabling environment for businesses to flourish, urging the beneficiaries of the OSAMCA loan to use the loan to grow their businesses.

He added that his administration’s Economic Development Programme had helped provide necessary infrastructure which had translated in reduced cost of doing business in the State.

In her address, the chairman of OSAMCA, Princess Feyikemi Egbeyemi said governor Abiodun’s support for the agency, over the last two years, had enabled it to give loans to agribusinesses and non-agribusinesses, while 6,000 youths had been trained with the requisite skills.

Speaking on the loan scheme, Egbeyemi stated that, the agency provides loans in the form of asset loans, business loans, and retail credit for market men and women at rates better than commercial banks in the country.

Speaking in separate interviews, two beneficiaries of the loan, Mrs. Itunu Akingbade and Mr. Isaac Olabode lauded OSAMCA for helping them in their drive to expand their businesses, assuring that, they would judiciously utilise the loan and pay back as stipulated in the agreement.