As part of renewed moves to grow the Small and Medium Enterprises (SMEs), the Kwara State Government has injected N2.5 billion into its Small and Medium Scale Enterprises Micro-credit Intervention Scheme.
The scheme was launched in 2012 in the state.
Explaining this while receiving the Exco members of State Joint Tricycle Association at the Government House, Ilorin, the state governor, Dr. Abdulfatah Ahmed 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.
He said 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.”
He assured the team that
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.”
