The Osun State Government on Wednesday, October 13, 2021 has commenced the disbursement of N636.2 million Central Bank of Nigeria (CBN) loans to 2,000 beneficiaries in the state.
The beneficiaries include artisans, traders, farmers, manufacturers, and producers in the state’s micro economic sector.
This was disclosed in a statement by Sanya Olopade, the acting General Manager of Osun Micro Credit Agency.
According to Olopade, the scheme is in continuation of the Medium, Small, and Micro Enterprises Development Fund from the Central Bank of Nigeria (CBN), in conjunction with the state.
“With today’s disbursement launch by Governor Oyetola, the total number of beneficiaries will be 31, 888 and the total amount disbursed for Medium and Small Micro Enterprises Development in the state so far will be N6.5 billion.”
The scheme will be a great relief for micro business owners in the state who find it difficult to secure loans from banks and other financial institutions due to the high interest rates.
Also it will help in upscaling their businesses thereby contributing to the economic growth of the state.