Makinde inaugurates N1bn SMEs development scheme

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As part of the state’s post-COVID-19 economic recovery plans, Gov. Seyi Makinde of Oyo state on Saturday inaugurated N1 billion Micro, Small and Medium Enterprises (MSMEs) Development Scheme.

The inauguration is said to be a part of interventions targeted at stimulating the economy of the state.

While presenting the cheques to the beneficiaries, the governor encouraged them to make judicious use of the loans adding that the scheme would not only stimulate the economy of the state but create more jobs for its teeming youths and make owners of MSME be self-reliant.

The News Agency of Nigeria(NAN) reports that Olarinde Olakunle, Ruth Adeniji and Taofeeq Oladimeji were among the beneficiaries that received N2.5 million, N3 million and N3 million, respectively.

Speaking on behalf of the beneficiaries, Olakunle appreciated the Makinde-led administration for deeming it fit to provide them with the loan and promised that the loan would be used judiciously.

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