Business
Group Lauds RSG Over MSME Loan Disbursement

L-R: President, Nigeria Association for Energy Economics (NAEE), Prof. Wumi Lledare, 2016 president-elect, International Association for Energy Economics (IAEE), Mr Ricado Raineri, representative of the Vice President of Nigeria, Mr Chinedu Ugbo, and chairman of the occasion, Mr Odein Ajumogobia, during the 9th NAEE/IAEE annual international conference in Abuja recently.
A group of entrepreneurs
in the state has lauded the state government for the disbursement of loan facility of the Micro, Small Medium Enterprise Development Fund (MSMEDF) to young entrepreneurs to improve and grow their businesses in the state.
Speaking to The Tide in Port Harcourt on Monday, the Leader of the group, Mr. Osakwe Abiara, said tht they are happy with the action of the state governor for accessing the loan facility from the Central Bank of Nigeria (CBN) for the state’s indigenous entrepreneurs.
Abiara said that the loan had raised the standard of their businesses despite the economic challenges facing the country.
He said that the loan facility had also assisted the Rivers entrepreneurs to expand their businesses to create more employment opportunities for the unemployed youths.
He said that the facility would be prepaid to the state government through the micro finance banks at an interest free rate, stressing that the state government bears the interest responsibility on the loan.
Abiara said that in his Abua/Odual Local government over 5,000 persons had been empowered with the loan facility to improve their businesses, stressing that artisans were also included in the empowerment facility.
He said that by this singular act of the state government, the level of poverty and unemployment in the state would be reduced drastically.
Abiara urged the government to sustain the loan facility to the entrepreneurs in the state.
However when The Tide visited one of the micro finance banks at Agudama Street D/Line, a large crowd of persons especially from Degeme Local Government Area was seen at the bank waiting to collect their cheques in respect of the loan facility.
An official of the Cosmopolitan Micro-Finance Limited who spoke to The Tide and pleaded anonymity said that the bank is one of the micro finance banks engaged by the Rivers State Micro Finance Agency (RIMA) to disburse the loan facility to the entrepreneurs in the state, stressing that the bank is strictly following the guidelines on the loan facility disbursement.
It would be recalled that the state government has accessed the CBN N2 billion MGMEDF to assist entrepreneurs in the state.
Philip Okparaji
Business
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