Ogun State Government will soon launch a technology-based innovation fund, to serve as easier credit facilities for Micro, Small and Medium Enterprises (MSMEs), just as it is planning to start the construction of Atan-Lusada-Agbara road within the next two weeks.
Governor Abiodun stated these at the opening ceremony of the 10th Gateway International Trade Fair, tagged, “Transforming Agriculture and Commerce in a Highly Competitive Global Market”, at the Trade Fair Complex, Oke-Mosan, Abeokuta.
He said the intervention fund was part of the State government’s effort to fast-track economic growth, while the reconstruction of the dilapidated road was targeted at infrastructural development meant to provide the enabling environment for industrial hubs around the State.
He maintained that the State was also developing MSMSEs clusters across the State that would be provided with full infrastructure like roads, drainage, power, fibre optics to offer attractive pricing and flexible payment terms, to further encourage them.
“We will soon be launching the Ogun MSMEs development fund, to be known as Tech-based MSMEs, to provide easier credit facilities. We are also paying attention to rural roads, to boost agriculture and development in this regard, while the flag-off of the construction of Atan -Lusada- Agbara road will be done in the next two weeks”, he assured.
Gov. Abiodun said it was time for the country to explore other sectors of the economy, such as agriculture, trade and manufacturing, with needed attention, adding that it would go a long way in making it viable and sustainable.
The Governor, who noted that the Gateway Fair had over the years contributed to the economic and industrial growth of the State and the nation at large, expressed hope that the 2021 edition, would also serve as an avenue to cross-fertilise ideas, which would bring about the diversification agenda to help address the nation’s economic challenges.
Prince Abiodun also re-emphasised his administration’s commitment towards promoting a private sector-driven economy, re-assuring prospective and existing foreign, as well as local investors’ preparedness to continue putting in place necessary machinery for sustaining the socio-economic development of the State.
Speaking earlier, Commissioner for Industry, Trade and Investment, Mrs. Kikelomo Longe, said trade fairs were held around the world to showcase variety of products and services, and to launch recent inventions, adding that the State would explore the opportunities offered by the Fair to propagate the administration’s efforts at attracting more investors.
Contributing, his counterpart in the Agriculture Ministry, Dr. Adeola Odedina noted that agriculture was the major supplier of raw materials to industries, saying the State was leading in the production of cassava, poultry, eggs and vegetables in the country.
In his welcome address, President, Ogun State Chambers of Commerce, Industry, Mines and Agriculture (OGUNCCIMA), Alhaji Babatunde Olaleye, while lauding the present administration for engaging the Organised Private Sector (OPS) in policy formulation, opined that it was time for Nigeria to leverage on the African Continental Free Trade Agreement (AfCFTA), by exposing her manufacturing and non-oil sectors to the outside world, as the Agreement had opened window of opportunities for the country to enhance her status as the economic giant of Africa.