News Agency of Nigeria (NAN)

N600m disbursed from Ogun-BoI fund

Gov. Ibikunle Amosun of Ogun

By Oluwatoyin Onigbanjo

Gov. Ibikunle Amosun of Ogun says N600 million from the N1.1 billion MSME fund established in collaboration with the Bank of Industry (BoI) in 2013 has been disbursed.
Amosun made the declaration on Tuesday  during the ‘Ogun Day’ ceremony at the ongoing Lagos International Trade Fair.

Amosun was represented by the Deputy Governor, Mrs Yetunde Onanuga.

“So far, in five years, over 109 cooperatives have benefitted, seven SMEs and other individuals have also benefitted from the fund.

“In the last 5 years, we are pleased to say that over 100,000 direct and indirect jobs have been created and up to 25 new companies are preparing to berth in the state.

“We admire the great job done by the LCCI and the Lagos state government on the trade fair, which has been of immense importance to the industrialisation policy of the government,” Amosun said.

Amosun, who said the state government was working hard to provide an enabling environment for SMEs and investors to thrive, urged other states to follow suit.

Also speaking, Mr Bimbo Ashiru, the state’s Commissioner for Commerce and Industry, said that Ogun has the highest growth rate in the development of the non-oil sector.

According to Ashiru, the state is aware that the agriculture, solid minerals and manufacturing sectors will drive the nation’s economy in the next few years.

The News Agency of Nigeria (NAN) reports that the cultural troupe of the state’s Ministry of Culture and Tourism entertained visitors with traditional songs and dances during the ceremony.