The Ogun State government says its strategic interventions towards the development of the Micro, Small and Medium Enterprises (MSMEs) sub-sector are geared towards laying the foundation for a vibrant and resilient economy.

Commissioner for Industry, Trade and Investment, Mr. Adebola Sofela stated this in Isheri during the 2nd Annual Business Fair themed, “Bridging the Gap between Businesses and Communities 2.0” organised by the Rotary Club of Isheri-North, Isheri.

Represented by the Director, Industrial Promotion, Ministry of Industry, Trade and Investment, Engr. Kehinde Akintomide, Sofela said the Ogun State Small and Medium Enterprises (SME) Financial Empowerment Scheme made up of N2bn MSME Grants and Loans as well as other Business Support programmes were deliberate efforts to enhance the competitiveness of businesses in the State.

The Commissioner who reiterated government’s commitment to creating enabling environment added that the government was working on the Small and Medium Enterprises Industrial Land Acquisition Scheme (SILAS), a 1,000 hectare industrial hub which would enable small business owners buy land and establish their businesses at rates lower than market rates.

“ Under the visionary leadership of His Excellency, Prince Dapo Abiodun we have embarked on a transformative journey aimed at creating an enabling environment for businesses to thrive, fostering entrepreneurship, and uplifting our communities. We are laying the foundation for a vibrant and resilient economy,” Sofela said.

Speaking on accessing the government interventions, Sofela urged interested entrepreneurs to ensure they register their businesses with the Corporate Affairs Commission (CAC) as well as on the Business Premises Permit (BPP) portal stressing that formalisation of businesses was one of the major conditions for accessing such interventions.

Reacting to the call for protection of the local adire fabric from foreign imitations, the Commissioner said the government was working on making laws which would prohibit the sale of fake adire fabric imported from abroad adding that Abiodun-led administration had upscaled and inaugurated the Modern Adire Shared facility at Asero and the Ogun Fashion hub to support the development of adire business as well as the fashion industry.

Sofela while lauding the Rotary Club Isheri North for organising the Rotary Business Fair called on the exhibitors at the programme to participate at the forthcoming Gateway International Trade Fair scheduled to hold at the M.K.O International Trade Fair Complex, Laderin Abeokuta between April 19 and 29, 2024 assuring them of a business transforming experience.

In his address, President, Rotary Club Isheri North, Rotarian Daniel Nwejike said the major goal of the Business Fair is to create a platform for MSMEs to earn brand recognition and network appealing to the government to extend its grants and other interventions to businesses represented at the Fair.