Aregbesola To Empower Osun SME With N2billion

Disbursement of CBN Loan - 5

The Governor, Central Bank of Nigeria (CBN) Mr. Godwin Emefiele on Monday said the people-focused programmes and policies of the Rauf Aregbesola administration since inception have established him as “the strongman of Osun politics’.

The CBN Governor, who was represented by his Special Adviser on Development and Finance, Mr. Paul Nduka Eluowe, while affirming the belief that the polices had raised the state to a higher pedestal, spoke at the official ceremony for the disbursement of N2 billion Central Bank of Nigeria (CBN) Micro, Small and Medium Scale Enterprises Development Fund and the distribution of second batch of 22 mini-buses, held at the Nelson Mandela Freedom Park in Osogbo.

The scheme is a partnership with the Central Bank of Nigeria (CBN). Under the Bank’s N220 billion Micro, Small and Medium Enterprises Development Fund, the N2billion secured by Osun is already being disbursed.‎

Elumelu said that Small and Medium Scale Enterprises are essential ingredients of growth for any serious developing country.

He commended Osun governor for formulating policies and programmes that have economically and financially empowered the people of the state.

The CBN boss charged the governor to ensure that 60 percent of the 2billion Naira given to the state should go to women and 2 percent to physically challenged people in the state.

He said: “I am overwhelmed by the numbers of people present at today’s event. It shows that you are the strong man of Osun politics.

“Your programmes have shown that you are loved by your people with this massive attendance. I hope you will continue to be the strongman of Osun.

“I am not surprised that the majority of the people in attendance are women which the CBN beliefs that women are supposed to be empowered to unleash their potentials,” the CBN boss noted.‎

The Governor of Osun, Ogbeni Rauf Aregbesola, in his address titled “Marching onto Greater Development Heights”, said his determination to drive the state to a prosperous height was borne‎ out of genuine commitment to take Osun to the height of socio-economic and industrial development.

Aregbesola held that his administration is conscious of the fact that the success of any development enterprise was dependent upon the active involvement and participation of the people.

He pointed out that Osun, with carefully thought-out policies, programmes, conscious mobilisation and proper organisation of the people, nothing can stand in the way of its development.

The governor added that the most effective ways of making people the driving agents of development is to economically and financially empower them, and then allow them to handle the rest.

According to Aregbesola “We thus decided to come up with various economic empowerment schemes in order to give our people the economic wherewithal and the financial enablement to make them job-creators and wealth generators in a manner that will be beneficial to all and sundry.

“In order for the programmes to have the widest coverage for maximum outcomes, we have decided to spread the net to include the people in the lower rung of the socio-economic ladder – the small traders, the market women, the artisans, the transporters, the small-holder farmer, and the craftsmen and women among others.

“It is for this reason that we have established the Osun Micro-Credit Agency which was officially inaugurated on July 9, 2014.

“It was aimed at ensuring easy access to credit facilities by operators of micro, small and medium scale enterprises, particularly those in the informal sector of Osun economy”.

‎The Commissioner for Finance, Dr. Wale Bolorunduro, disclosed that Osun was the first state in Nigeria to benefit a sum of N2billion for the CBN to improve micro, small and medium enterprises, affirming the money was a product of financial engineering.

He maintained that 50 per cent of the money is expected to be used for agriculture and commerce.

Bolorunduro said the loan would be judiciously used by the beneficiaries in such a way that the loans would multiply in numerous folds.

“Osun is the first state to have assessed and secured the N2bn loan for Central Bank of Nigeria for the purpose of development.

“The state arrived at this financial opportunity through a careful and prudent financial engineering of the state governor in the last four years.

“This judicious use has helped the state a great deal in the developmental projects and programmes of the administration.

“We hope to focus more on agriculture and commerce in the state for further growth and development,” Bolorunduro said.

In his remark, the Commissioner for Commerce, Industry, Cooperatives and Empowerment, Hon. Ismail Adekunle Jayeoba-Alagbada, said Aregbesola has kept his electoral  promises made to the people through this second tier of his administration’s  empowerment programmes.

Alagbada said the second promise of distribution of 22 mini buses to transporters is a promise fulfilled.

He said “This event is indeed a ceremony of promise fulfilment by the people’s governor in whom the people have implicit confidence.

“The entire landscape of Osun is dotted with innumerable landmarks which bear clear testimony to the sagacity, dedication, commitment and progressive mindedness of our virtuous and passionate governor.”