Kwara Govt. Injects N2.5b into SME Intervention Scheme

Posted on by Independent Kwaran

THE Kwara State government has injected about N2.5billion into its Small and Medium scale Enterprise (SME) Micro-credit Intervention scheme since it was launched in 2012.

The State governor, Dr. Abdulfatah Ahmed disclosed this on Tuesday when he received the executive of the Kwara State Joint Tricycle Association at the Government House, Ilorin.

He said that the scheme was established to support small business owners in the State as part of efforts to boost the informal sector of the State economy.

Governor Ahmed explained that the state government has continued to inject funds into the SME intervention scheme as a way of economically empowering the people and cushioning the effects of the prevailing harsh economy.

According to him, “If any government intends to end recession, it must be ready to inject more money into circulation.

“So, releasing that substantial amount into the state’s economy is part of our government’s deliberate plans and measures adopted to deal with recession.

We are ready to support our people particularly those in the informal sector to survive the current harsh economic situation”, Ahmed said.

The governor, therefore, promised that the State government will assist the Joint Tricycle association through the provision of tricycles for its members at subsidized rate so they can contribute their quota to development of the state economy.

“Government is planning to assist those in the informal sector to improve their businesses for them to pay taxes for the development of the state,” he added.

He appealed to the association to support the government in its effort to maintain peace, security and order in the State.

Governor Ahmed also encouraged members of the association not to allow miscreants infiltrate them.

The Association’s Chairman, Prince Duro Oyebade, earlier in his address, praised the governor for his purposeful leadership and for ensuring prompt payment of salaries in the state despite the current state of the country’s economy.

Source:Kwara Report

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