FG To Revive Economy With MSMEs

By Ikenga Chronicles November 30, 2016

The Central Bank of Nigeria has vowed to revive the nation’s economy by empowering the youths through its Micro, Small and Medium Enterprises Development Fund initiative.

In a statement by Branch Comptroller, CBN, Osun State, Mrs. Oluyemisi Adebayo, at the graduation ceremony of 135 persons who took part in entrepreneurship development training in Osogbo, the apex bank said it was leveraging research that had shown that economies would thrive on the MSMEs.

The training was organised by the CBN Entrepreneurship Development Centre, South-West, and the Africa Leadership Forum, with the Deputy Governor of Osun State, Grace Laoye-Tomori, among the guests at the event.

Adebayo hinted that the bank had also initiated Agric Credit Guarantee Scheme Fund and Financial Inclusion Programme, while also looking to partner the Osun State Government for the production of rice in commercial quantity to reduce the nation’s dependence on importation of the commodity.

Participants at the training were exposed to money management skills, enterprise development and idea generation, business and financial management, marketing and interpersonal relationship.

Also speaking, the Programme Director, CBN Entrepreneurship Development Centre South-West, Dr. Olumide Ajayi, said Osun was the first state in the South-West to sponsor individuals and create avenue for the training since its commencement in March 2015.

Ajayi further stated that out of the 135 persons that had undergone the training, 125 had submitted their business plan, adding that the Osun State Micro-Credit Agency would start interacting with them with the aim of helping them to develop the plans.

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