Governor Sheriff Oborevwori of Delta State has lauded the Federal Government for disbursing over N1.2 billion to 24,103 beneficiaries of its grants and loan scheme across the state, adding that such gesture has potential for revving up economic growth and development in the country.
Oborevwori gave the commendation at One-Day Townhall Sensitisation on the Federal Government Grant and loan scheme held in Asaba, the state capital.
President Bola Tinubu has, in line with his commitment to improve smallscale businesses in Nigeria, has allotted a total of N200 billion as presidential support grant for intervention programmes and the manufacturing sector across the country, representative of Bank of Industry, Mr Moses Nenger, disclosed at the weekend.
Oborevwori, represented by the State Commissioner for Girl Child Entrepreneurship Development and Humanitarian Affairs, Community Support Service, Hon Orode Uduaghan, said that the scheme, if sustained, would transform the economy of Delta State and the country in general.
While noting that his administration placed high premium on human capital and economic empowerment, Oborevwori observed that over 200,000 persons have been empowered through various state programmes in the last one year.
He, however, said that the state government’s collaboration with the Federal Government on grant and loan scheme, has impacted over 24,103 persons in the state.
The governor called for more sensitisation at the grassroots using a more friendly communication strategy that would enable the people understand the programmes better.
He charged the people to take the opportunities provided to secure single digit interest loan to grow their businesses while urging the beneficiaries to effectively utilise the fund to build their businesses and grow the economy.
“Today, we are here to discuss how this incitive will transform the lives of people of Delta, particularly small businesses that drive our economic development in the state.
“The Federal Government through this scheme is demonstrating commitment to uplifting the MSMES sector by providing direct support and opportunity for growth.
” I am proud to say that in the past one year, through various intervention programmes across the state, we have successfully supported over 215,291 persons through the state government empowerment schemes across the state.
“These programmes reflect our commitment to creating a favourable environment for businesses to flourish. Our collaboration with Federal Government in the Presidential Grants and Loan Scheme, is a continuation of our vision.
“The Presidential Grant and Loan scheme was launched few weeks ago, so far, the state has successfully mobilised and encouraged 24,103 people in the scheme three batches across the state,” Oborevwori said.
The governor, however, cautioned beneficiaries to deploy the money to grow their businesses, their life and the economy of the state and the country.
In his opening remarks, State Focal Person for the Scheme, Dr Isioma Okonta, thanked the Federal Government for the initiative which he said had impacted many people in the state.
According to Okonta, the programme is working and many people from across the state have received their N50,000 grants.
He, thanked the government for the townhall sensitisation and advised those who have not received their grants to wait for it, adding that it would come.
Earlier, Mr Moses Nega, of the Bank of Industry, in Delta, disclosed that of the N200 billion approved by the Federal Government for the presidential grant and loan scheme, that N1,205,150,000 has been disbursed to 24,103 beneficiaries across Delta.
Although application windows are closed for the N50,000 support grant for NANO businesses, application was ongoing for the N75 billion MSMES and another N75 billion Manufacturing sector fund to support them at nine per cent interest rate.
In his goodwill messages, Mr Frank Obiora, State Chairman, Nigerian Association of Small and Medium Enterprises (NASME), thanked President Bola Tinubu for the initiative and charged the beneficiaries to effectively utilise the fund to grow the economy, adding that the government have played their part by providing funds at an affordable interest rate.
Mr Charles Conweh, State Office of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and Mr Princewill Ojeh, Chairman, Nigeria Association of Small Scale Industrialist (NASI), said that the issues of funding had remained the challenge of small businesses in the country.
However, he urged the people to seek information and to venture into accessing the Federal Government loan because of its low interest rate to start new businesses or to expand their existing business.
Ojeh urged the people to register their business to enable access to the grant or loan, adding that for anybody to qualify to apply for the loan, he or she must register with the Corporate Affairs Commission (CAC).
Some beneficiaries, including Mr Gabriel Emomotimi (fish farmer), and Miss Jennifer Miriki (a caterer), lauded the scheme for empowering them with N50,000 grant each, appealing for more such support to grow their from businesses.
