Ekiti: Oyebanji Launches N1 billion Loan For Businesswomen, Says Facility not National Cake

By Ayodele Oni

Ekiti State Governor, Biodun Oyebanji, has told female business owners that the Ekiti State Government (EKSG)/Access Bank N1 billion Loan Initiative should not be perceived as a share of the “National Cake”.

The governor explained that the soft loan initiative was targeted at stimulating the economy and fully involve women in the evolving development process.

The governor spoke in Ado Ekiti, on Tuesday at the official launching of the EKSG/ Access Bank Women Initiative, a bipartite partnership, where N1 billion soft loan will be given to female traders and  business owners.

Addressing the female business owners from the 16 Local Government areas of the state in Ado Ekiti, Oyebanji, stated that the soft loan offers succour to dismantle the barriers being encountered to raise capitals for the growth of  businesses.

The governor, who noted that adequate security was being provided to protect investments in Ekiti and urged the beneficiaries to plough the facility into their businesses to bring a better industrial and entrepreneurial facelift to the state.

He added that the ingenious  measure was to propel the beneficiaries’ businesses and for them to break even under the current harsh business environment.

“This programme was to bridge the gap being experienced in our  women having access to loans in Ekiti. I want to appeal to the beneficiaries to make good use of this loan.

“It is a revolving loan and not part of what you can consider as a share of national cake. You have to pay back, so that others who are still yearning for it can also have access.

“The State Government decided to enter into this agreement with Access Bank, so that we can improve on the development of MSMEs in Ekiti.

“My administration has set up what we called Office of the Ease of Doing Business and also providing functional industrial park, where investors will pay highly subsidized amount to acquire lands to establish their industries.

“We are also helping local contractors to get technical partners, machinery and equipment.

“Let me inform you that this is also part of the plans put in place by the government to realize a change in Ekiti State economy from a public sector to a private sector driven economy”, the governor added.

In her contributions, the First Lady of Ekiti State, Dr. Olayemi Oyebanji, disclosed that the soft loan offers veritable opportunity to provide robust funding for entrepreneurs, saying every sector of the economy like education, health, industry and others required people taking loans for advancement.

Mrs Oyebanji said the success of women in business will have ripple effects that transcend their immediate families in the society and the country at large, lamenting how female owners of MSMEs are being confronted with encumbrances  in accessing funds to propel their businesses.

“This is not a national cake, this is your working capital. Taking this loan and pay back will provide opportunity for other women, so don’t default.

“Don’t forget that you have guarantors and if you default, they are going to be the ones to be held liable.”