Ogun creates over 100,000 jobs through BoI loan scheme

THE Ogun State Government has disbursed N563 million to owners of Small Scale industries operating in the State.

The money was disbursed through 108 Cooperative societies and benefitted 1,039 individuals as soft loans

According to the Commissioner for Commerce and Industry, Bimbo Ashiru, the scheme, which he said is a joint venture between his Ministry and Bank of Industry (BoI), had so far created 100,000 direct and indirect jobs for the youth. 

Ashiru spoke at the Second Annual retreat, organised by the Ministry to brainstorm on the promotion of industrialisation in Ogun State.

The money, which was given to the beneficiaries as a soft loan, according to him was disbursed within the last two years and is meant to boost industrial development in the state so as to create employment opportunities.

The Commissioner said the Ministry had achieved a lot in the area of capacity building for entrepreneurs, training for unemployed graduates and enterprenual leadership, training courses for some members of Small and Medium Enterprises association among others.

He re-affirmed Government’s commitment to the empowerment of Micro, Small and Medium Enterprises (MSMEs), development of Industrial estates, State markets, Geological data base and the promotion of private sector driven industrialization in the State.

“Development of Industrial estates is definitely very germane to the industrial development mission of the State. To that extent, we shall not lose focus of necessary attention to the development of Industrial estates in the three Senatorial districts of the State”. Ashiru said.

He disclosed that, since the inception of the present administration in 2011 till date, 57 companies had been established in the state, “While another six will soon be ready for commissioning this year”.

Besides, he also confirmed that in order to cushion the effect of the dwindling revenue from the Federal Government, the State Government had looked inward to optimally tap into solid mineral resources to improve its revenue base.

In her address, the Head of Service, Mrs. Modupe Adekunle commended the Ministry for its achievements in the last four years, noting that its efforts had brought a lot of development to the State.