Ekiti State Government and Wema Bank PLC have trained 2,500 youths in Agribusiness and Small Medium enterprises, out of which 2,000 will be empowered to reduce the spate of poverty and unemployment in the state.
The programme, tagged Agribusiness Small, Medium Enterprise Investment Scheme (AGSMEIS), was an initiative of the Central Bank of Nigeria and an intervention policy designed to create wealth among Nigerians.
Speaking at the closing ceremony on Saturday, Governor Kayode Fayemi, represented by the Commissioner for Investment, Trade and Industry, Mr David Olusoga, said the programme will bring mutual benefits to the society in terms of jobs creation, financial inclusion and crime reduction.
The governor stated that the partnership with organised private sector was facilitated by Ekiti State Bureau of Employment, Labour and Productivity, and Microfinance and Enterprise Development Agency.
According to him, “I enlist the support of other building blocks of the society in the quest of promoting and developing entrepreneurship among our youths. A good example has been laid by WEMA Bank plc.
“It is my desired expectation that many of you will not only conceive winning business ideas, but will go ahead and develop successful businesses that will bring prosperity not only to you, but to humanity.”
Fayemi added that the new entrepreneurs will have access to single digit interest rate loans as the government is interested in changing the perspective that only the civil service is lucrative in the state.
In his remark, the Regional Manager, Wema Bank PLC, Mr. Kola Mustapha, said 2,000 of the trained youths will be considered for empowerment, adding that the action will expand business opportunities in the state.
“To every growing enterprise, about ten people are attached in terms of value chain. We are willing to partner the government to do more of this.
“If the private sector can partner our government, enterprise will grow in Ekiti and the economy will be stronger in terms of empowering our jobless youths, reducing poverty level and crime rate. Even more investors will be willing to invest here once they see Ekiti as a good investment destination,” Mustapha said.
To allay fear on farmers-herders clashes for those interested in farming, the Deputy Director, African Leadership Forum, Dr. Olufemi Adebiyi, said the micro insurance policy attached to the scheme will address the issue.
“I quite agree that poor electricity and herders’ invasion are risk to your businesses, but you must put up a risk management technique to be able to remain in business in case you suffer any loss.
“AGSMEIS policy allows that you use part of the loans to pay the premium for a micro insurance, so that you can recover from any loss. This is very essential because there is no business without its risk.”
The Director General, Ekiti State Bureau of Employment, Labour and Productivity, Mr. Lanre Ogunjobi, urged the participants and others entrepreneurs to use the opportunity of border closure policy of the federal government to develop their businesses.
He therefore urged them to go to their respective local areas to develop businesses as the government would not want concentration on the capital city alone.