Enugu Govt. Reduces Interest Rate On SME Loans

The Enugu State Government on Wednesday said it had reduced interest rate on the N2 billion Micro, Small and Medium Enterprise (SME) Development Fund from nine to six per cent.


Mr Chuks Ugwoke, The Commissioner for Information in the state, disclosed this to newsmen after the state

executive council meeting in Enugu.


Ugwoke said the gesture would reduce the total on-lending rates from nine to six per cent, including  charges by the participating financial institutions.


He said the reduction would encourage owners of small businesses in the state.


“The SME fund is designed to finance commercial agriculture and its value chain, including food processing, poultry, fishery and piggery,’’ he said.


The commissioner said the council had also approved N122 million for the rehabilitation of the state’s Customary Court of Appeal.


He said the rehabilitation include construction of office accommodation for the court judges and re-roofing of the court rooms.


Ugwoke said the rehabilitation would create conducive working environment and ensure speedy dispensation of justice.


He said the council had also approved N322 million for the making and designing of eight roads in the state.


The commissioner said the roads include Ogui, Okpara Avenue, Zik Avenue, Presidential, Abakaliki Road, Government House Road, Ninth-mile and Anambra boundary routes. (NAN)

Source : Leadership

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