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Ogun disburses N1b loans to SMEs

06 November 2013, 10:37

Abeokuta- The Ogun State Government on Tuesday said it had disbursed about one billion naira loans to Small and Medium Enterprises (SMEs) as part of efforts to industrialise the state.

Segun Adesegun, the state Deputy Governor, made this known at the Lagos International Trade fair during Ogun Day celebration.

According to Adesegun, the government is also giving entrepreneurs tax incentives depending on the nature of their businesses and their economic contribution to the state.

Bimbola Ashiru, Ogun State Commissioner for Commerce and Industry, said that the state was focusing on harnessing its agricultural potential in order to help transform the Nigerian economy.

"Agriculture remains the most viable option to get out of the economic rot that petro-dollar has brought upon this nation.

"It is the only area where we wield the greatest comparative economic advantage.

Ashiru said that an investor in agriculture would yield huge returns.

"It is an area often despised by investors, but highly rewarding especially in the face of increasing world population and food shortage."



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