Ogun Govt. to launch MSMEs Intervention Fund

Ogun State Government has said it will soon launch Small Scale Enterprise Intervention Fund for Technology-based businesses.

Governor Dapo Abiodun, who stated this at the opening ceremony of the 10th Gateway International Trade Fair, tagged, “Transforming Agriculture and Commerce in a Highly Competitive Global Market”,  held at the Trade Fair Complex, Oke-Mosan, Abeokuta, also hinted that to make business easy for investors in the State, the state will in two weeks time flag-off the Construction of the Agbara-Lusada road.

“This administration has embarked on massive road construction and rehabilitation across the State, including roads to industrial hubs. We will be flagging off the construction of Atan Lusada Agbara road in the next 2 weeks. We are also paying attention to rural roads to boost agriculture and the development of Micro, Small and Medium Enterprises (MSMEs).

“We are developing MSMEs clusters across the state that will be provided with the full infrastructure of roads, drainage, power, and fibre optics that would be offered at attractive pricing and flexible payment terms to further encourage to incentivize MSMEs.

“We will soon be launching the Ogun MSMEs development fund geared towards providing easier credit facilities. We will also be launching an innovation fund for Tech-based MSMEs”, he said.

Abiodun also noted that it was time for the country to explore other sectors to boost its economy, adding that if sectors like agriculture, trade and manufacturing, were given the needed attention, it would go a long way in making them economically viable and sustainable.

“The agricultural sector remains the cornerstone to our economy and, if well harnessed, will put our economy development at a very fast pace.

“Diversification into the non-oil sector has become imperative if we must make use of our abundant human resources and improve on local production and consumption. We need to reduce import rate, improve export and earn more foreign exchange to boost our economy”, he said.

Noting that the Gateway International Trade Fair had over the years contributed to the economic and industrial growth of the State and the nation, he expressed hope that this year’s edition, would also serve as an avenue to cross-fertilize ideas to bring about the diversification agenda that would help address the nation’s economic challenges.

Abiodun noted that the fair would further provide an opportunity for businessmen and women to showcase their goods and services to the outside world, enhance corporate partnership and bilateral relations among countries through the exchange of notes on trending issues with potentials for economic growth.

The establishment of the Investment Promotion and Facilitation Agency, the Governor noted, was to provide useful information for prospective investors on business opportunities in the State and the massive reconstruction of alternative roads to link major roads to ease movement of agricultural produce, goods and services, was the administration’s commitment towards promoting investments and industrialization.

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