By Fatima Muraina
Members of the Manufacturers Association of Nigeria (MAN), Ondo state chapter have been assured of a single digit interest loan to facilitate their businesses.
The Head of Investment Promotion of the Ondo State Development and Investment Promotion Agency (ONDIPA), Dr Adeola Richard Alonge made this known in an interview with The Hope in Akure.
Alonge said that the state understands their challenges, identifying finance as a major challenge which needs to be addressed.
This, he noted, was vital because it was not economically viable for the association to take loan of 30 percent interest rate.
He said the state will look for banks that could provide them with single digit interest rate loan to facilitate their businesses.
According to him, the agency would look at the possibility of strengthening its relationship with the association to ensure that government recognises them and also creates enabling environment for them to thrive.
“ONDIPA will have further engagement with them so that there will be a robust business in working together to further develop the state”, he said.
While declaring that government would have a better business transaction with the association, Alonge urged them to make themselves available for discussion with government through ONDIPA.
MAN leadership in Ondo state had in 2018 complained of neglect and non recognition by the state government.
The State Chairman of the Association, Engineer Emmanuel Adewumi said government had not made any visitation to any of the members’ manufacturing companies to ask about the challenges they have been facing in the state.