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As State Launches N1bn Revolving Loan For MSMEs
BY AWELE OGBOGU
THE Nigeria Export Import (NEXIM) Bank has lauded Delta State Governor, Rt. Hon. Sheriff Oborevwori for value creation for Micro, Small and Medium Enterprises (MSMEs), during the first MSME Summit, held today in Asaba, tagged “Advancing Delta’s MSMEs: From Vision to More Value”, stating emphatically that ‘value is what transforms a state.’
Representative of the governor, Commissioner for Trade and Investments, Mr. Samuel Oligida acknowledged NEXIM Bank’s endorsement, which was communicated through Executive Director, Business Development, Ms. Stella Okotete at Mariam Babangida Leisure Park, Anwai, Asaba, venue of the Summit.
Oligida disclosed that the state government is currently disbursing a N1 billion revolving loan to MSME operators across the 25 local government areas, adding that the facility was being managed by his ministry in collaboration with the Bank of Industry (BOI), attracting only a single-digit interest rate of nine per cent.
In his remarks on behalf of the governor, Oligida said “today we take an important step towards transforming Delta State into a vibrant centre of innovation, productivity and shared prosperity. MSMEs remain the lifeblood of every strong economy, creating jobs, inspiring creativity and sustaining livelihoods. Here in Delta State, they embody the ingenuity and resilience of our people, from the farmer in Agbor to the fashion designer in Asaba and the tech entrepreneur in Warri.
“Our commitment is to see every MSME not just survive, but flourish and to compete boldly at national and global level. To make this possible, we pledge to expand our support to entrepreneurs, giving them access to capital, equipping them with modern business tools and technological skills, building infrastructure that supports growth and streamlining regulation, so doing business in Delta is easier and fairer.
“We also deepen partnerships with banks and other private sector players and development agencies to amplify impact and ensure sustainability. What drives us is not just hope but value- value for entrepreneurs, consumers, communities and the state at large, creating jobs, reducing poverty and enhancing livelihoods.”
The three-day MSME Summit lasting till December 5, has traders, market women, artisans, entrepreneurs and an array of MSME stakeholders in attendance.
