The Federal and the State Governments in Nigeria have been advised to strengthen Micro, Small and Medium Scale Enterprises in promoting Economic Independence and poverty Alleviation at the grassroots level.The Senator Representing Odun East Senatorial District and Chairman Senate Committee on Industry, Senator Francis Fadahunsi made the appeal during the launching of a Revolving Loan Scheme in Support of over 700 Small Business Owners and Entrepreneurs. The Initiative, in partnership with the Osun State Ministry of Cooperatives and Empowerment, seeks to address the funding challenges facing the micro, small and medium Scale Enterprises in the state.
Senator Fadahunsi, represented by his Senior Legislative Aide, Akindele Famuyide, emphasized the at the initiative was a strategic investment rather than a handout, designed to foster sustainable development by empowering Entrepreneurs, especially Women and youths, to become self-reliance.
Osun State Governor, Senator Ademola Adelek, represented by his Deputy, Kola Adewumi, said the idea was in line with his administration plan to reduce poverty and unemployment among residents of the state. The Commissioner for Cooperatives and Empowerment, Bayo Ogungbangbe and Beneficiaries of the loan described the initiative as commendable just as they promised to make the best out of it for rapid socioeconomic development.
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