The Managing Director of the Bank of Industry (BoI), Kayode Pitan, has announced disbursement of a sum of N3.5 billion to business owners as part of effort boost Micro, Small and Medium-scale Enterprises (MSMEs) in Osun State.
Pitan stated this at the Osun State Business Summit held in Osogbo, the state capital on Tuesday, saying that the focus of the organisation was to
make the assessment of loans easier and faster for the purpose of enhancing and sustaining small businesses in the state and elsewhere.
The MD identified high interest rate as a bane of SMEs’ in Nigeria, saying the bank is assiduously working to give soft loans to business men and women at an affordable interest rate.
“We are doing every thing possible to reduce the adverse effect of high interest rate on small and medium enterprises by partnering with some micro-finance banks who could give loans at an affordable rates to our business men and women.
“I want to assure everyone that BOI is open for serious business”, he said.
The Deputy Governor, Grace Titilaoye Tomori who represented the Governor said, MSMEs play key roles towards the growth and wealth of any developed nation.
She added that government had also put in place a legal frame work to protect MSMEs .
She stressed the need for mutual understanding among stakeholders to solve the problems facing MSMEs in the state.
According to her,Osun Government came up with a six-point integral plan to play vital roles in the socio-economic development of the state and and to make life meaningful to the people.
Tomori who lauded the MSMEs and promised that the state government would look into their plight especially through the introduction of annual trade fairs to allow MSMEs showcase their potentials.
Bola Bamigbola, Osogbo.
