Obaseki Plans Single-Digit Interest Rate Loans for Business Owners

August 22, 2018
godwin obaseki edo state

By Dipo Olowookere

Plans are underway by the Edo State government to provide single-digit interest rate loans for entrepreneurs in the ‘Heartbeat of the Nation.’

This this part of the strategies Governor Governor Obaseki is putting in place to boost the economy of Edo State.

Speaking during a meeting on Sunday with leaders of the All Progressives Congress (APC) from Edo South Senatorial District, in Benin City, the state capital, Mr Obaseki said apart from that, he would also establish production centres across the state that will share support infrastructure such as electricity, security and low-cost financing.

He disclosed that his administration was already partnering with private investors to establish production centres across the state beginning with Edo South Senatorial District.

“This will boost economic growth, reduce cost of operations and create employment opportunities while enhancing economies of scale,” he said, adding that efforts were being made to “expand opportunities for micro-credit of single-digit interest rate for women to encourage entrepreneurship and boost disposable income while improving the quality of lives of the beneficiaries.”

Mr Obaseki said his administration’s local content policy has ensured that local companies are integrated in the demand and supply chains of all economic activities in the state, for economic integration, skills transfer and empowerment.

During the meeting, the party leaders commended the Governor’s efforts in making the state an economic hub of the nation.

They expressed their support for his policies, noting that since assuming office, he has brought the dividends of democracy to the grassroots.

The party leaders encouraged him to remain focus to his goal.

Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Mr Olowookere can be reached via [email protected]

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