Enugu Raises N250M Loan For SMEs

Arrangements have

been concluded by the Enugu State Government in collaboration with all the 17 Local Government Councils in the State to raise the sum of  N250 million for the State’s Small and Medium Enterprises  loan scheme from the Bank of Industry (BOI).

The State Commissioner for Information, Mr. Chuks Ugwoke, made this known while briefing newsmen at the end of the first meeting of the state Economic Planning Commission chaired by Governor Sullivan Chime in Enugu and attended by all the council chairmen in the state.

According to Mr. Ugwoke, the State government had contributed its counterpart fund of N125m while the Commission at the meeting approved that all the 17 local government councils in the state should collectively contribute the balance of  N125m for the loan scheme.   Mr. Ugwoke  disclosed that Bank of Industry is to provide a marching fund of N250m for the loan scheme, adding that  government’s decision to raise the sum was to enable the state SMEs access loan from the bank to start businesses and expand the existing ones in parts of the state.

The commissioner further stated that the commission mandated the State Ministry of Works in collaboration with the Town Engineer for Nsukka Local Government to start scoping on the twelve kilometre Ibagwa Ani – Okpaligbo – Ogbagu – Obize – Ejuona – Owerre Obukpa road in the council area.

He said that after the scoping of the road, government would direct on further action on the road, to ensure that benefiting councils have good access road in the area.

Mr. Ugwoke also  told the journalists  that the state governor, Mr. Chime who is also the chairman used the occasion to welcome the council chairmen on their first term to the meeting and implored them to redouble their efforts towards taking development to the grassroots to make life better for the people.

The council chairmen, pledged to work hard to justify the confidence reposed in them by the electorate and thanked the governor for his exemplary leadership especially allowing them full access to their federation allocation.

They noted that such transparency by the governor is a natural standard as cited by their colleagues from other states of the federation.