The Ondo State Commissioner for Employment and Productivity, Taiye Akindele, has said that the state government had set aside N400 million for its Accelerated Collective Economic Scheme.
He told the News Agency of Nigeria (NAN) in Akure that applicants, under the scheme, would receive loans ranging from N500,000 to N5 million at very low interest rates.
According to him, the state government established the scheme in collaboration with the Federal Government to empower small- scale businesses.
Akindele said that the N1 billion contributory loan scheme was made up of 60 per cent contribution by the Federal Government and 40 per cent by the state government.
“We have concluded every arrangement to disburse the loans to the applicants in the first phase of the programme on June 19 in Akure,’’ Akinyele said.
He commended the efforts of the Gov. Olusegun Mimiko in creating the ministry, adding that the state government was committed to employment generation.
Akinyele called on interested applicants to come and access the loans with determination to work hard to repay the loans.
He warned them against any attempt to default in repaying the loans.
“For anyone to key into the system, he should forget about white collar job, be serious minded, committed, and be ready to become employer of labour,’’ Akinyele said. (NAN)