Delta State Governor, Sheriff Oborevwori, on Friday hailed the Federal Government for disbursing over N1.2 billion to 24,103 beneficiaries of its grants and loan scheme across the state.

The governor gave the commendation at a one-day Town hall sensitisation on the Federal Government grant and loan scheme in Asaba.

Mr Oborevwori was represented by the Commissioner for Humanitarian Affairs, Community Support Service and Girl Child Development, Orode Uduaghan.

He said the scheme if sustained would transform the economy of the state and the country at large.

The governor said the state government prioritised human capital and economic empowerment.

He said that in the past one year, over 200,000 persons had been empowered through the state-owned programmes.

He, however, said that the state government collaboration with the Federal Government on grant and loan schemes had impacted over 24,103 persons in the state.

The governor called for increased sensitisation at the grass-root by using a more friendly communication system to enable the people understand the programmes better.

He urged the people to take the opportunities provided to secure single digit interest loans to grow their businesses, urging them to effectively utilise the fund to build their businesses and grow the economy.

Mr Oborevwori said, “Today, we are here to discuss how this incentive will transform the lives of people of Delta, particularly small businesses that drive our economic development in the state. The Federal Government through this scheme is demonstrating commitment to uplifting the MSMES sector by providing direct support and opportunity for growth. I am proud to say that in the past one year, through various intervention programmes across the state, we have successfully supported over 215,291 persons through the state government empowerment. These programmes reflect our commitment to creating a favourable environment for businesses to flourish. Our collaboration with the Federal Government in the Presidential Grants and Loan Scheme is a continuation of our vision. The Presidential Grant and Loan scheme was launched few weeks ago, so far, the state has successfully mobilised and encouraged 24,103 people in the scheme three,” The governor, however, cautioned beneficiaries to deploy the money to grow their businesses, their life and the economy of the state and the country.’’

In his opening remarks, the state Focal Person for the scheme, Dr. Isioma Okonta, thanked the Federal Government for the initiative which he said had impacted many people in the state.

According to Mr Okonta, the programme is working and many people from across the state have received their N50,000 grants.

He thanked the government for the town hall sensitisation and advised those who had yet to receive their grants to wait for it.

Earlier, a worker with the Bank of Industry in Delta State, Moses Nega, said that of the N200 billion approved by the Federal Government for the presidential grant and loan scheme, N1. 2billion had been disbursed to 24,103 beneficiaries in Delta.

He said though application windows had closed for the N50,000 support grant for nano businesses, that of N75 billion MSMES and another N75 billion manufacturing sector fund was ongoing.

He said that it would be for support to MSMES at nine per cent interest rate.

In their goodwill messages, state Chairman, Nigerian Association of Small and Medium Enterprises, Frank Obiora, thanked President Bola Tinubu for the initiative.

He charged the beneficiaries to effectively utilise the fund to grow the economy, adding that the government played their part by providing funds at an affordable interest rate.

The state Office of the Small and Medium Enterprises Development Agency of Nigeria, Charles Conweh, said that funding had remained the challenge for small businesses in the country.

Mr Conweh urged the people to seek information and to venture into accessing the Federal Government loan because of its low interest rate to start new businesses or to expand existing business.

Chairman, Nigeria Association of Small Scale Industrialist, Princewill Ojeh, urged the people to register their businesses to enable them easily access grants or loans.

He said that for anybody to qualify to apply for the loan, he or she must register with the Corporate Affairs Commission.

According to him, the government should make the application portal user friendly to ease the process of the online application.

A fish farmer, Gabriel Emomotimi and a caterer, Jennifer Miriki, lauded the scheme for empowering them with N50,000 grant without knowing anyone in government.

They appealed for more support from the government to enable them to further grow their businesses.

(NAN)