Micro credit disbursement by the Bank of Industry under the Federal Government’s Government Enterprise and Empowerment Programme in Ogun State has hit over N450 million. According to the Development Finance Institution, over 7,000 beneficiaries across 130 associations have so far accessed the marketmoni loans in the state.
A statement from it quoted the Ogun State Governor, Ibikunle Amosun, as saying during the BoI’s presentation of loan certificates to beneficiaries of the GEEP programme tagged “Marketmoni alert train don land,” that the Micro Small and Medium Enterprises were a major catalyst for economic growth and development of big industries.
He added that the MSMEs in the country had not been able to reach their potential due to lack of access to funds. The Managing Director, BoI, Olukayode Pitan, who was represented by the bank’s Executive Director, Micro Enterprise, Mrs. Toyin Adeniji, was quoted as saying that the objective of the event was to share with associations and cooperative leaders the benefits and how to access the loans.