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ODSG trains 360 youths

ODSG trains 360 youths

By Fatimah Muraina
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Ondo state Government has sponsored 360 youths on entrepreneurship training in order to make them qualify in accessing the Central Bank loan and effectively manage their businesses.

The State Manager of Small and Medium Enterprises Development Agency of Nigeria (SMEDAN)) Mr. Abiodun Ayedun disclosed this in an interview with The Hope in Akure, the Ondo State capital.

He disclosed that the training which was conducted by SMEDAN was sponsored by the state government which drew 20 participants each from the 18local government areas across the state.

According to him, Agriculture and Small Enterprise Development Loan for the youths is a loan that is packaged through the banks committee that every five percent of the banks profit is deposited for that purpose.

The manager explained that qualified youths would be given between one million to N10million at five percent interest rate whose repayment tenure is a minimum of three years and maximum of seven years which is payable as from 18months moratorium and on or before seven years.

Ayedun declared that the CBN has over N100billion laying fallow to be given out calling on the citizens to capitalise on the opportunity to apply for the loan.

Participants who spoke on the development applauded government for training the youths which they said indicated that the Governor has interest of the youths at heart.

 Foluke Adebowale plead that government should help out on registration of their businesses with the Corporate Affairs Commission (C. A. C), to minimise the requirements needed in opening of an account alone.

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Her words: “Government can equally help in making an upfront payment of about N100,000 for those whose proposals have been approved so that they can make use of the money to get the requirement s of business registration and opening of account  then give the balance later for execution of their business plan”Also , Kehinde Falomo appealed that the loan be approved and participants  be presented within the estimated time frame to help facilitate their business proposals

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