Ogun state govt launches N900m loan programme for business

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Ogun State government has launched a N900m loan programme for Micro, Small and Medium Enterprises operating in the state.

This was revealed by the Commissioner for Industry, Trade, and Investment, Mrs Kikelomo Longe during a virtual quarterly stakeholders’ engagement meeting.

According to her, the loan is a joint venture between the state government and the National Association of Microfinance Banks and can be accessed at microfinance banks across the state.

In a statement, she said, “I am happy to inform you that the National Association of Microfinance Banks has made the sum of N900m available in the form of a special lending product to entrepreneurs operating in Ogun State.”

The commissioner stated that the loan facility was to build on the achievements of the MSMEs Business Clinic, which was held recently, and augment additional funding opportunities in the state such as the N1bn Ogun State Government–Bank of Industry loan, and the Ogun State Agricultural and Multipurpose Credit Agency credit facility.