Osun Restates Commitment To SMEs Dev

The Osun State Government, has reiterated its commitment to the creation of an enabling environment for the development of Small and Medium Entrepreneurs (SMEs) in the state.
The state Deputy Governor, Mrs Grace Titilayo Laoye-Tomori, made this pledge at a business submit organised by the Bank of Industry (BOI) in Osogbo, on Tuesday.
Tomori, who said that SMEs played key roles in the development of nations, stressed the need for the government to put in place a legal framework to protect small enterprises.
She also called for mutual understanding and synergy among stakeholders with a view to addressing the challenges of fixing SMEs in the state.
Laoye-Tomori said that the Osun Government had come up with a six-point integral plan to play vital roles in the socio-economic development of the state in order to make life meaningful for the people.
Tomori, who lauded the SMEs, promised that the state government would allow them to showcase their potential through the introduction of annual trade fairs.
The deputy governor, also urged the SMEs to invest in agriculture to increase food and livestock production, as she urged investors to come to invest in Osun, assuring them of a secure environment.
Also, the Commissioner for Commerce, Investment and Industry, Mr Ismail Alagbada lauded the bank for its support towards accelerating the state’s industrial growth.
Alagbada, who noted that the BOI had strengthened several SMEs since its establishment, said the Osun Government, through its micro agency, had disbursed N3.5 million to cooperative societies, individuals and SMEs.
According to him, the government will not relent in its efforts to facilitate easy access to funds by SMEs.
The General Manager of BOI, Mr Olukayode Pitan, said through partnership, the industry had a matching fund to be disbursed to industrialists through the state.
Pitan said that the bank had disbursed N3.5 billion to industrialists in the state and would still do more for the growth of SMEs.
He said that the challenges being faced in accessing funds by the SMEs would be looked into in order to minimise such problems.
Pitan said that the bank would identify micro-finance banks closer to the SMEs and assist them in order to service small-scale businesses.
He, however, said that the bank was open for business and would continue to support the SMEs in the state.