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COVID-19: Makinde flags off N1b economic devp scheme

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OYO State Governor, Seyi Makinde, has flagged off a Nbillion state Micro, Small and Medium Enterprises Development Scheme, as part of interventions targeted at stimulating the economy of the state after the COVID-19 pandemic.

  The governor, while presenting symbolic cheques to some beneficiaries of the scheme at the Government House, Ibadan, said the scheme will stimulate the economy of the state and create more jobs for its teeming youths; adding that the scheme will also make small and medium enterprises to be self-reliant.

  Makinde, according to a statement by his Chief Press Secretary, Mr Taiwo Adisa, on Friday, said the scheme was part of the state’s post-COVID-19 economic recovery plan.

  He said: “We are well aware that even though we did not effect a total lockdown in Oyo State, many MSMEs have suffered and are still suffering because of the partial lockdown. I have mentioned some private schools and businesses that depend on them; they have food vendors and the rest of them. They have all suffered under the partial lockdown. Night clubs, event centres are dependants too and they have also not been unable to make any earning.”

  The governor, therefore, urged all the beneficiaries to make use of the loan judiciously and to abstain from ventures, activities that can ruin their businesses.

  Some of the beneficiaries who got the cheques include Mr Olarinde Olakunle, who received N2.5 million; Adeniji Ruth Fausat and OladimejiTaofeeq, who got N3million each.

  Speaking on behalf of the beneficiaries, Mr Olakunle appreciated the Makinde-led administration for deeming it fit to provide them the loan, promising that the loan will be used judiciously.

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