Oyo State Government has presented cheques, worth Five Hundred million Naira to participating microfinance banks across the seven geopolitical zones in the state, as loan support to small and micro enterprises under the Sustainable Action for Economic Recovery Plan.
Chief of Staff to the Governor, Segun Ogunwuyi did the symbolic presentation at the conference room, office of the Secretary to the State Government, Agodi Ibadan.
Presenting the dummy cheques to the representatives of the microfinance banks, Mr Ogunwuyi noted that the funds will cushion the hardship induced by the removal of the fuel subsidy.
He added that, micro businesses can access between N50,000 to N250,000, while small businesses also have the opportunity of accessing N250,000 to N1million loans under the scheme.
Ogunwuyi stressed that the participating microfinance banks selected beneficiaries without any political influence.
