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Take Advantage Of Govt BOI Funds, Ogun Comm For Industry Tasks MSMEs

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Governor Dapo Abiodun of Ogun State

Ogun: Take  Advantage Of Govt. BOI Funds-Comm For Industry Tasks MSMEs

By; NIYI OGUNGBOLA, Abeokuta

Ogun State Commissioner for Industry, Trade and Investment, Mrs. Kikelomo Longe has called on Micro, Small and Medium Enterprises (MSMEs) in the State to take advantage of the OGSG-BOI Matching Fund Scheme, which allows them access loans at seven percent interest rate and other interventions to grow their businesses.

Mrs. Longe made the call while speaking with newsmen in her Office, Oke-Mosan, Abeokuta, stating that application for the OGSG-BOI MSMEs scheme which is meant for agro-allied businesses involved in manufacturing and processing sector is still on.

She said the government had subsidised the Fund at seven percent interest rate, to encourage eligible MSMEs benefit, calling on them to visit the Fund Scheme’s Desk Office at Room 328, Ministry of Industry, Trade and Investment, Block B, State Secretariat, Oke-Mosan, Abeokuta for more enquiries.

The Commissioner added that MSMEs in the State should also avail themselves the opportunity of benefitting from the Federal Government’s MSMEs Survival Fund by applying throughwww.survivalfund.gov.ng noting that the fund which was made up of five streams, would mitigate the effects of the COVID-19 pandemic on MSMEs.

She stressed that the formalisation support stream of the Fund currently available for applicants in Ogun State would enable business owners register 250,000 businesses nationwide for free at the Corporate Affairs Commission (CAC), assuring that all the government interventions were based on transparency and fairness.

Longe added that as part of efforts to make MSMEs thrive, the Ministry would also organise training for 2,000 enterprises, starting with the first batch of 500 to access the Central Bank of Nigeria (CBN)-NIRSAL MSMEs Development Fund.

Meanwhile, Small and Medium Enterprises (SMEs) looking forward to access loans from the Ogun State Agriculture Multipurpose Credit Agency (OSAMCA), would not need to wait for too long, as the Agency is set to roll out a new set of loans before the year is over.

The Chairman, OSAMCA Board, Mr. Abayomi Hunye gave the assurance when members of the new Board paid a courtesy call on the Commissioner for Industry, Trade and Investment, Mrs. Kikelomo Longe in her office at Oke-Mosan, Abeokuta.

According to him, the new board was determined to ensure the Agency positively impacts businesses after nine years of inactivity, due to the lack of a constituted board. 

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