Makinde: How I raised funds for micro, small, medium businesses during pandemic

Seyi Makinde, governor of Oyo state, says he has set up funds for micro, small and medium enterprises in the state.

The governor disclosed this while giving an account of his stewardship in the last one year.

He said he established N1billion fund for boosting MSMEs at the height of COVID-19 battle, noting that tailors benefited from this fund to produce face masks and personal protective equipment (PPE) for medical practitioners as parts of COVID-19 preventive measures.

“The fund has helped tackle some socio-economic forces among the artisans and traders. The forces include poverty, either of the mind or material,” he said.

“It may be difficult to eradicate poverty but government can contribute its quota to alleviate this perennial challenge by providing practical assistance, first by identifying individuals who are hungry for a lift, to energise their pet dreams. This explains the idea behind the N1billion for small businesses.”

The governor also unveiled action plans for “aggressive infrastructure development” with a view to restoring the glory of the state.

Makinde said in the last one year, his administration has rehabilitated schools, repositioned public healthcare facilities, maintained deplorable roads under zero pothole programme and strengthened the broadcasting services through acquisition and upgrading of equipment.

While acknowledging the growing population of Ibadan, about 60 percent of the people living in the state, Makinde said he had resolved to create new town housing development schemes in the state capital and eased procedures for processing certificate of occupancy within 60 days.

“With over 70 percent of the people living in the city and Ibadan being a major political, economic and commercial centre in the Southwest, Nigeria. Government must ensure that inhabitants and visitors alike enjoy living and touring the city of Ibadan,” the governor said.

He, thus, explained the advantage of housing program structured to position the state for the emerging real estate boom, resulting from the possible migration of urban settlers who will be induced by the completion of the new railway double gauge track linking Ibadan, Abeokuta with Lagos.

“With the completion of the railway project, a good number of people will relocate to the Ibadan axis in search of affordable housing since the travel time between Ibadan and Lagos will be halved with the introduction of fast trains. For many, working in Lagos and living in Ibadan would be an age long dream come true,” he said.

“Ibadan over the decades has been the darling of visitors and admirers who are drawn to her because of her rich repertoire in Nigeria’s modern history, also for her position in the cerebral comity and her strong traditional and historical influence on her geopolitical location. But like a giant without defenses she has been left bruised and bleeding.”

He explained the nexus between the infrastructure revolution initiative and his investment drive, noting that the plan to make the state a natural choice for investors was at his aggression for executing strategic infrastructure projects in different parts of the state.

He said his administration “has accelerated agriculture and is seeking greater possibility of bringing more into the SME funding net. With its antecedent as an agrarian society, Oyo State will benefit immensely from the government’s scheme to help the farmers increase their productivity.”

Makinde highlighted different programmes his administration had introduced “to reduce the cost of cultivation in the state”.