Business Post Contributor
By Ashemiriogwa Emmanuel
As part of its effort to support business owners, the Ekiti State government has said it would assist entrepreneurs who received the federal government COVID-19 intervention loan with the repayment.
According to the Director-General of the Microfinance and Enterprise Development Agency (MEDA), Mr Kayode Fasae, the state government is offering to cater for 40 per cent of the credit facility, while the business owners will clear the remaining 60 per cent.
Mr Fasae, while contributing at an interactive session held on Tuesday with business community leaders in Ado Ekiti, explained that this gesture is to help cushion the operation costs of businesses in the state.
Noting that more than 160,000 people and businesses have benefitted from the federal government COVID-19 intervention loan, Mr Fasae said that about 7,000 others are still in the queue to benefit from the scheme.
He emphasized that business owners need to register their businesses in order to benefit from support schemes available to them.
The MEDA Chief added that “The state government, through MEDA, has conducted harvest training for over 12,500 participants out of which 700 had received start-up funds to start their businesses.
“It is the responsibility of MEDA to assist all start-up businesses and to ensure that all businesses are registered because we know that the waiver is for a limited period.”
Speaking earlier at the interactive session, the Director-General of Ekiti State Development and Investment Promotion Agency (EKDIPA), Ms Damola Ajibade, mentioned that the state government had approved an initial waiver for business registration through its committee on ease of doing business,
She added that automation of Pay As You Earn (PAYE) registration as well as online payment of taxes was also established.
According to her, these are reforms made by the state government with the aim of promoting and enhancing the socio-economic development of and within the state.
