Mrs Bolaji Ibiyeye-Adisa, the Chairperson, Offa Local Government Area, Kwara says embarking on massive investment on entrepreneurship development to promote Small Scale Enterprises (SMEs) will help to transform the nation’s economy.
Mrs Bolaji Ibiyeye-Adisa, the Chairperson, Ibiyeye-Adisa told the News Agency of Nigeria (NAN) in Offa, Kwara on Monday that there was the urgent for stakeholders in the economy to explore other key sectors for solutions to the nation’s socio-economic challenges.
The council boss said that such massive investment in entrepreneurship development would assist to fast track and promote the Federal Government policy aimed at diversifying the nation’s economy.
She said that the need to tap into the opportunities and advantages in the SMEs informed the recent training of some local entrepreneurs by the council.
She said that no fewer than 200 entrepreneurs were trained by the council on how to access funds from the Bank of Industry (BOI) and relevant financial institutions.
She said that the training was designed to enhance the capacity of the beneficiaries in sourcing for funds for their businesses toward improving their income generating capacities.
The council boss explained that the framework offered through the training would ensure the survival and sustenance of the numerous SMEs within the council area.
Ibiyeye-Adisa said that the training was also informed by the need to align with the state government policy thrust on poverty alleviation with emphasis on SMEs development.
“The pursuit of economic development is an important goal of many developing economies of the world and Nigeria cannot be an exception.
“Small and Medium Scale Enterprises have proven to be a major intervention in resolving the problems of poverty and unemployment in most developing economies.
“SMEs remain the catalyst for the economic growth and development of the people at the grassroots,’’ she said.
The council boss listed some challenges hindering entrepreneurship and the development of SMEs as inadequate financial support, poor management, lack of training, insufficient profit and low demand for products and services.
She praised the state government for providing the enabling environment for SMEs, skill acquisition and vocations to thrive in the state. (NAN)