Delta State to Launch N1 Billion MSMEs Loan Scheme
The Delta Government has assured that the one billion Naira soft loan it approved for Micro, Small and Medium Enterprises (MSMEs) in the state would be ready soon.
Mr Olisa Ifeajika, Executive Assistant to Gov. Sheriff Oborevwori on Public Enlightenment (Projects and Policies), disclosed this while clarifying certain issues to newsmen on Monday in Asaba.
Ifeajika recalled that the Commissioner for Economic Planning, Mr Sonny Ekedayen, had on Feb. 14 announced the state government’s approval to set aside the sum of N1 billion soft loan at a single digit interest to grow MSMEs in the state.
He said that the perceived delay to the plan’s takeoff was due to proper documentation by way of signing the Memorandum of Understanding between the state government and the Bank of Industry (BoI), the funds manager.
The governor’s aide said the choice of the BoI as fund manager was deliberate due to its expertise and years of experience in handling such funds.
Ifeajika added that the loan would accommodate both existing and new entrants into the MSMEs scheme in the state. According to him, the loan scheme covers all residents operating their businesses in the state, and is at a single digit interest rate.
He stressed that the state government’s intention was to build and grow the MSMEs and the state’s economy, adding that there are no political colorations to ensure an operator accessed the loan.
The governor’s aide added that the qualification to access the loan was to be a resident business operator, proffer proper documentation and apply through the BoI. He said: “the qualification is just do your business in Delta and present your qualification to the BoI for assessment.
“The fund is ready but the people cannot access it now. It will be ready in few weeks after the proper documentations are done by way of signing a memorandum of understanding between the state government and the bank.
“The economy of any nation revolves around the MSMEs. This informs the state government’s decision to earmark the N1 billion loan for MSMEs to grow the state economy.”
On the speculations about Gov. Sheriff Oborevwori decamping from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC), Ifeajika debunked the insinuation, saying that it was mere speculation and wishful thinking.
“A cordial relationship exists between the governor and President Bola Tinubu, focused on ensuring good governance and this is expected of all well-meaning Nigerians to promote the country’s overall development.
According to Ifeajika, Gov. Oborevwori has cordial relationship with President Bola Tinubu to promote good governance but not with the APC. “Oborevwori is the pathfinder of the PDP and a general does not leave his troup. Delta is PDP and all its members have the DNA of PDP. “He (Oborevwori) is for PDP and whatever he has, will be utilised to support PDP at the national level,” the governor’s aide stressed. #Delta State to Launch N1 Billion MSMEs Loan Scheme#
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