We’ll continue to nurture, support MSMEs – Oyo govt.

  Oyo State government has reiterated its commitment to nurturing, supporting and stimulating the growth of Micro, Small and Medium Enterprises (MSMEs) in the state.

Commissioner for Budget and Planning, Prof. Musibau Babatunde, stated this on Wednesday in Ibadan while declaring open a two-day capacity building training for beneficiaries of the N1 billion COVID-19 stimulus package.

The News Agency of Nigeria (NAN) reports that the stimulus package was inaugurated in June 2020 by Gov. Seyi Makinde as soft loan to entrepreneurs in the state.

Babatunde said that the state government acknowledged the importance of MSMEs in the economic development of any nation.

According to him, nurturing and supporting entrepreneurs to thrive will enhance job creation as well as boost the economy and productivity.

The commissioner said that the capacity building, otherwise known as MSMEs clinic, was aimed at tutoring entrepreneurs on business techniques, finance and quality/standard as well as how to facilitate and grow their businesses.

“We have realised that funding is not particularly their (beneficiaries) problem, but that they only need to be tutored, hence our collaboration with FATE Foundation for the training of the entrepreneurs.

“We intend to train 1,600 entrepreneurs in this pilot programme at Ibadan and Ogbomoso zones and I can assure you that it will move round the state,” he said.

On his part, Mr Idowu Ogedengbe, the Executive Assistant to Gov. Seyi Makinde on Administration, said that the programme was organised to ensure that the beneficiaries of the loan had the requisite knowledge on how to manage the funds.

Also speaking, Mr Akin Makinde, Coordinating Director of Oyo State Investment and Public-Private Partnership Agency (OYSIPPA), said that more than 2,000 entrepreneurs across the state would benefit from the capacity building.

Leader of FATE Foundation, Mr Fatai Olayemi, said that the training would expose the entrepreneurs to all they needed to know to become successful business owners.