Ogun State to Launch Development Fund for MSMEs

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Ogun State to Launch Development Fund for MSMEs
Dapo Abiodun, Ogun Governor

The governor of Ogun State, Nigeria, Dapo Abiodun has declared that the state will launch a Micro, Small and Medium Enterprises (MSMEs) Development Fund to provide easy credit facilities to MSME operator. The governor equally disclosed that innovation fund for tech-based MSMEs in the state will be launched with the view the aim of encouraging and promoting the digital economy.

The governor made the disclosure while declaring open the 10th Gateway International Trade Fair. He also noted that the trade fair has grown beyond just a meeting point for business communities, but a veritable platform that affords operators of MSMEs, manufacturers, businessmen and women, managers of corporate organizations and the government.

He added that it was also an opportunity to come together and showcase locally-made products and services, saying the avenue provides a unique opportunity to cross-fertilize ideas; explore new business innovations and make credible business contacts.

Abiodun, however, said that the state has started developing MSMEs clusters across the state that will be provided with full infrastructure of roads, drainage, power, fibre optics, which will be offered at attractive pricing and flexible payment terms to further encourage to and provide incentives for business operators.

The governor further reiterated his administration’s commitment towards the promotion of a private sector-driven economy, industrial development, investment-friendly environment, commercial activities and empowerment and promotion of MSMEs in the State.

“We will soon be launching the Ogun MSMEs Development Fund geared towards providing easier credit facilities. We will also be launching an innovation fund for Tech-based MSMEs. We will continue to be deliberate and methodical in our approach to support our resource-based industrialization of Ogun State.

“Ogun State is the largest industrial hub in Nigeria, we are determined to uphold this position. No doubt, the theme for this year’s Fair: ‘Transforming Agriculture and Commerce in a Highly Competitive Global Market’ at this trying period could not have been more appropriate. It is coming at a time when we are all working hard towards diversifying Nigeria’s economy from our over-reliance on the oil sector by developing other sectors such as agriculture, trade and manufacturing.

“The hosting of this Trade Fair is one of our many initiatives toward improving the Ease of Doing Business and in turn promote investment in our state. Our administration is irrevocably committed to the industrialization of Ogun State and making the State a truly investors’ first-choice destination, not only in Nigeria but in Africa”. The governor stated.

He said his administration has deliberately ensured good governance, infrastructure development, construction of Special Agro-Processing Zone and a Cargo Airport, security, ICT development, education and agriculture, with the view creating enhance the Ease of Doing Business in the state.

Abiodun, who disclosed that the construction of the Atan-Lusada-Agbara industrial road will be flagged off in the next two weeks, submitted that “we are also paying attention to rural roads to boost agriculture and development of MSMEs in the state”.

 

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