The Ogun State Government has rolled out a targeted loan scheme aimed at empowering local artisans and boosting small-scale enterprises across the state, in a fresh push to stimulate grassroots economic growth and reduce unemployment.
Governor Dapo Abiodun, while unveiling the initiative in Abeokuta, said the financial support program is designed to help skilled workers in various trades — including tailoring, carpentry, welding, hairdressing, and mechanics — access low-interest loans to expand their businesses and acquire modern tools.
The loan disbursement, managed through the Ogun State Enterprise Development Agency (OGSEDA) in partnership with microfinance institutions, will benefit over 5,000 artisans in the first phase, with plans to scale the program in the coming months.
“This initiative is about economic inclusion,” the governor stated. “Our artisans are the backbone of local enterprise. By providing them with access to affordable credit, we are not only enhancing productivity but also encouraging self-reliance and job creation.”
Applicants will be selected through registered trade associations, with a focus on transparency and financial literacy. Beneficiaries will also receive training on business management, digital payments, and customer service.
Artisan leaders have praised the move, saying the program will reduce reliance on exploitative informal lending and allow many to scale operations.
“This is a lifeline for our members who struggle to access bank credit,” said Adesina Olabode, chair of the Ogun Association of Artisans. “With this support, many of us can now buy better tools, meet customer demand, and even train apprentices.”
The initiative is part of the state’s broader strategy to support MSMEs, following recent tax incentives and digital skill programs targeting young entrepreneurs.
Leave a Reply