#POLITICS: Kwara to support SMEs, create 2,000 jobs with N200bn CBN intervention fund intervention fund - WELCOME TO FACTS ZONE NEWSPAPERS



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#POLITICS: Kwara to support SMEs, create 2,000 jobs with N200bn CBN intervention fund intervention fund

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The Kwara State Government is set to support small businesses, while also creating innovation hubs that will generate at least 2,000 jobs in the manufacturing sector.

The State Governor, Abdulrahman Abdulrasaq, made this known, recently, while receiving the delegation of Kwara Youth Centre (KYC), an umbrella body of young people who offer solutions to challenges in various communities.

Abdulrasaq said that the innovation hubs will be established in the area of high-end movie production and textile manufacturing.

The governor stated that he envisions a state where government would create the right environment for individuals to create wealth and employment rather than anyone relying exclusively on the government to give them jobs.

On funding, the governor said the state is seeking to benefit from the N200 billion intervention fund of the Central Bank of Nigeria (CBN) which has been earmarked for the promotion of entrepreneurship in the state.

The governor disclosed that the proposal has been sent and talks had reached an advanced stage for the state to be considered for the funds.

“We are talking with the CBN on the innovation hub and I’m glad to inform you that our proposal to access the fund is receiving favorable ratings. When these hubs are created, they would generate at least 2000 jobs in the area of movie production and textile designs,” he said.

The initiative, according to the governor, would attract European and Chinese firms and lead to technology transfer to the indigenous workers. It will also be a huge factor in driving growth in the grassroot by giving room for the greater potential of a wider product range, especially in textile manufacturing.

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