Nov 13, 2020

‘Take advantage of Ogun-BoI Fund’

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The Ogun State Commissioner for Industry, Trade and Investment, Mrs. Kikelomo Longe, has urged Micro, Small and Medium Enterprises (MSMEs) to take advantage of the OGSG-BOI (MSME) Matching Fund Scheme which allows them access loans at seven per cent interest rate and other interventions to grow their businesses.

She said application for the Matching Fund Scheme which is meant for agro-allied businesses involved in manufacturing and processing sector is still on.

She said the government had subsidised the Fund at seven per cent interest rate to encourage eligible MSMEs benefit calling on them to visit the Fund Scheme’s Desk Office for more enquiries.

Mrs. Longe said MSMEs owners should also avail themselves the opportunity of benefitting from the Federal Government’s MSMEs Survival Fund by applying for it.

She said the Formalisation Support stream of the Fund which is currently available for applicants in the state would enable business owners register  250,000 businesses nationwide  for free at the Corporate Affairs Commission (CAC), assuring that all the government interventions are based on transparency and fairness as no form of connection or political affiliation is required.

The Commissioner added that as part of efforts to make MSMEs thrive, the Ministry would also organise training for 2,000 MSMEs starting with the first batch of 500 to access the Central Bank of Nigeria (CBN)-NIRSAL MSMEs Development Fund.

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