Kwara Govt injects N2.5b into SME Intervention Scheme

How Kwara State is reaping fruits of synergy with Federal Government
Gov. Ahmed Fatai
United Bank for Africa

The Kwara State government has injected N2.5billion into its Small and Medium Scale Enterprises(SME) Micro-credit Intervention Scheme since it was launched in 2012.

The Governor, Dr Abdulfatah Ahmed, disclosed this on Wednesday when he received the executive of the State Joint Tricycle Association at the Government House, Ilorin.

He said that the scheme was established to support small business owners in the state as part of efforts to boost the informal sector of the state economy.

Gov. Ahmed explained that the state government has continued to inject funds into the SME intervention scheme as a way of empowering the people and to cushion the effects of the prevailing harsh economy.

“If any government intends to end recession, it must be ready to inject more money into circulation.

“So, releasing that substantial amount into the state’s economy is part of our government’s deliberate plans and measures adopted to deal with the recession.

“We are ready to support our people, particularly those in the informal sector, to survive the current harsh economic situation,” Ahmed said.

The governor, therefore, promised that the state government will assist the Joint Tricycle Association through the provision of tricycles for their members at subsidized rates, so that they can contribute their quota to the development of the state economy.

“Government is planning to assist those in the informal sector to improve their businesses, for them to be able to pay their taxes for the development of the state,” he said.

He appealed to the association to support the government in its effort to maintain peace, security and order in the state.

Ahmed also encouraged members of the association not to allow miscreants to infiltrate them.

Earlier in his address, the Association’s Chairman, Mr Duro Oyebade, praised the governor for his purposeful leadership and for ensuring prompt payment of salaries in the state, despite the current state of the nation’s economy.