The Ondo State Authorities says it has finalised plans to roll out a state-backed micro-credit facility for Micro, Small and Medium-scale Enterprises (MSMEs), with implementation and disbursement scheduled to begin on Monday, November 2, 2026. The initiative, being applied underneath the administration of Governor Fortunate Aiyedatiwa in alignment with the……
The Ondo State Authorities says it has finalised plans to roll out a state-backed micro-credit facility for Micro, Small and Medium-scale Enterprises (MSMEs), with implementation and disbursement scheduled to begin on Monday, November 2, 2026.
The initiative, being applied underneath the administration of Governor Fortunate Aiyedatiwa in alignment with the Federal Authorities’s MSME help framework, is aimed toward bettering entry to finance and strengthening small companies throughout the state’s 18 native authorities areas.
The event was introduced in an announcement issued on Saturday by the Senior Particular Assistant to the Ondo State Governor on MSMEs and Innovation, Ojo Vivid Idemudia, also called ENIAFE.
In accordance to Idemudia, Governor Aiyedatiwa has granted preliminary approval for the micro-credit facility, which is designed to present accessible funding to entrepreneurs, artisans, native commerce teams and small enterprise operators.
He stated the initiative would develop entry to low-interest capital, streamline enterprise growth and promote technological innovation throughout conventional and rising enterprise sectors.
Idemudia described the intervention as proof of the governor’s dedication to creating an enabling surroundings for grassroots companies.
“Assist for MSMEs in Ondo State is not potential; it’s now operational. His Excellency has demonstrated distinctive foresight and institutional dedication. MSMEs represent the spine of our nationwide economic system, and this decisive motion displays management of the best order,” he stated.
The governor’s aide additionally highlighted the institution of a devoted Workplace of MSMEs and Innovation, describing it as a major institutional step in the direction of giving small companies and innovation-focused enterprises better consideration inside the state authorities.
He stated the workplace made Aiyedatiwa the primary governor within the South-West geopolitical zone, and the third in Nigeria’s historical past, to create a specialised Senior Particular Assistant portfolio solely centered on micro-enterprises and innovation.
Idemudia additionally recommended the Senior Particular Assistant to the President on MSMEs, Tola Johnson, for coordinating the Federal Authorities’s framework to facilitate entry by sub-national governments and native enterprise teams.
He stated the collaboration between the federal and state governments was anticipated to strengthen enterprise growth and create extra alternatives for entrepreneurs throughout Ondo State.
Idemudia praised President Bola Ahmed Tinubu and Governor Aiyedatiwa for prioritising grassroots companies, describing their interventions as an illustration of the function of MSMEs in driving financial development and consolidation.
