Gov Chime /ENSG Set Up N500M Fund to Boost Small and Medium Scale
Enterprises in Enugu State



Enugu sets up ₦500m fund to boost SMEs
October 4, 2011 07:17PM
234Next.com


The Enugu State government has set up a ₦500 million micro-credit fund to
boost the growth of Small and Medium Scale Enterprises (SMEs) in the state.

Mr Nnanyelugo Obasi, the chief executive officer of Enugu State Small and Medium
Enterprises Centre, told the News Agency of Nigeria on Tuesday in Enugu that the
fund would be disbursed to small business groups and individuals to assist them
to start their own businesses.

According to him, the scheme will take off before the end of the year.

He said that the bill on the scheme was passed last year by the state House of
Assembly and assented to by the governor.

"The bill is all about creating enabling fund that will assist micro, small and
medium enterprises in the state to access fund and start their businesses.

"The fund will not be less than ₦500 million. Those that will benefit from
the scheme are those in the micro level, small and medium enterprises."

He advised those who could not afford the collateral to form cooperative
societies to enable them to access the fund.