Over N580m has so far been disbursed to 111 Cooperative Societies comprising 1,046 individuals and nine business enterprises through the Ogun State government and Bank of Industry loan scheme to promote small and medium scale enterprises since its inception.
The Commissioner for Commerce and Industry, Otunba Bimbo Ashiru, disclosed this while playing host to members of the State House of Assembly Committee on Commerce, Investment and Trade led by its Chairman, Hon. Bowale Solaja.
Ashiru noted that through the loan scheme, several direct and indirect jobs had been created, adding that a one-stop investment centre had also been established for ease of doing business in the State.
According to him, about 120 factories had begun operation in the State while about 20 others were ready for commissioning.
He said the Ministry had generated over N469m between January and August, 2017, while appealing to the House to expedite action on the passage of the tax harmonisation law to enhance smooth operation of the ministry.
On their part, the committee members commended the Ministry for achieving so much with the little resources available, urging them to work on some of its enabling laws to undergo amendment so as to achieve optimal result.