Abuja - The Kwara State Government has
earmarked N150 million for a new scheme aimed at promoting entrepreneurship and
competitiveness in the state’s informal sector.
Tagged “Kwara's Next Entrepreneur”, according to a senior
government official, the scheme will allow existing and new medium scale
enterprises to bid for funds to establish or expand existing businesses in the
The Technical Adviser to the State Governor on Small and
Medium Enterprises Development, Olusegun Soewu, disclosed that a crop of
successful businessmen had been engaged as managers and captains to assess
business plans of interested individuals.
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The panel includes Kunle Oyinloye, the Olofa of Offa, Oba Mufutau Esuwoye II, Shuaib Ottan,
Retired Vice Admiral Samuel Afolayan,
Mallam Yusuf Olaolu Alli and Engineer Lanre Sagaya.
Others are Waheed Olagunju, Chief Tajudeen Owoyemi and
Soewu noted that successful applicants would benefit from
between N3 million to N10 million to be repaid over a period of time, depending
on the nature of the enterprise.
He said the competition would be held twice a year to
ensure that as a many qualifying small businesses as possible benefited from
Soewo said up-and-coming business owners would continue
receiving micro credit funding under a different window as the government was
determined to economically empower people and create jobs by promoting the
- CAJ News