Home Living Kwara Government Increases Propose SME Fund From N250m to N2.5b

Kwara Government Increases Propose SME Fund From N250m to N2.5b

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By: Mosunmola Ayobami in Ilorin

Kwara State Government has earmarked a total sum of N2.5b for small and medium scale enterprises agency scheme to support groups,associations, clubs and cooperative societies.

The state governor, Dr Ahmed disclosed this at Government House, Ilorin during a visit by members of Joint Tricycle Association of Kwara State (JOTAKWAS), said his administration’s initial capital of N250million for the Small and Medium Scale Enterprises has grown to over N2.5billion.

Dr Abdulfatah Ahmed promised more support for SMEs with a pledge of more subsidised   tricycles for transporters in the state as part of the administration’s effort at creating packages for organised associations “so that they can begin to meet their economic obligations to themselves and the state in the area of prompt payment of taxes to government.”

He also promised to support the association with take-off grant, a bus and an office secretariat with a view to seeing the association growing to become reliable, stronger and critical stakeholder in the state economic environment.

“We are going to workout on a clear need assessment to determine how many tricycles are required and begin to work on this.  Hopefully we will begin to see a more focussed association, well structured, well organized with specific service rendering to the system,” he stated.

The Governor advised them to guide against infiltration by miscreants and criminals so that they will not be creating problem in the name of association for the state government stating the need to maintain law and order and pay their taxes regularly.

Earlier, chairman, JOTAKWAS, Duro Oyebade said restructuring of Tricycle Association by the state government has led to a reduction of violence and an improved revenue generation by the state government. Oyebade commended the governor for a purposeful leadership and efforts aimed at moving the state forward.

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