Economy

Oyo Govt. Begins 2-Day Covid-19 Stimulus Training For MSMEs

By Web News 938

Oyo State government has flagged off a two-day technical coaching and capacity building for the beneficiaries of 1 billion naira Covid-19 stimulus package disbursed to operators of Micro, Small, and Medium Enterprises, MSMEs in the state.

Oyo State Commissioner for Budget and Economic Planning, Professor Musibau Babatunde and the Executive Assistant to Governor on Administration, Reverend Idowu Ogedengbe while briefing newsmen in Ibadan, said the programme was organized to ensure that the beneficiaries of the 1 billion naira MSMEs stimulus package have the requisite knowledge and technical know-how to manage the loans.

Professor Babatunde and Reverend Ogedengbe explained that the unemployment rate would reduce in the state if the beneficiaries could expand their businesses and engage others.

In a remark, the Director-General, Oyo State Investment and Public-Private-Partnership Agency, OYSIPPA, Mrs. Lola Olutola represented by the coordinating director of the agency, Mr. Akin Makinde, stressed that the capacity building, which targeted over two thousand entrepreneurs would be spread across the state.

The lead trainer, Mr. Fatai Olayemi said after the technical coaching, participants would be assisted in getting higher loans, alongside credible value chains.

Iyabo Adebisi

Economy

300 MSME’s Benefit From Survival Scheme

By Web News 647

Over three hundred Micro, Small and Medium Enterprises (MSMEs) have so far benefitted from the Federal Government Survival Fund scheme amounting to close to about ten billion Naira.

Special Assistant to the Vice President on MSMEs, Mr Tola Johnson stated this in Abuja, at the 12th meeting of National Council on Industry, Trade and Investment.

Mr Johnson, who is also the Project Coordinator of the fund, in a paper entitled “Impact of Survival Fund on the Economy ’’, said the numbers increase weekly once approved.

He explained that by the end of December, 500,000 beneficiaries would have been paid, which means that half a million jobs would have been saved.

Mr Johnson also said the scheme is expected to specifically impact on over thirty-five thousand individuals per state.

The MSMEs survival fund scheme is a one-off grant to support vulnerable business in meeting their payroll obligations and safeguarding jobs to cushion effects of the COVID-19 pandemic.

The five tracks under the scheme are payroll support, Transport and Artisan Grants, General MSMEs Grants, Formalisation of Business and Guarantee Off-Take.

Patience Olumati