Delta Govt to Disburse ₦1 Billion Loan Scheme for MSMEs

Delta State’s Commissioner for Trade and Investment, Mr Samuel Oligida, has announced that plans are underway to engage key stakeholders ahead of the disbursement of a ₦1 billion revolving loan aimed at supporting Micro, Small, and Medium Enterprises (MSMEs) in the region.

The loan scheme, which was approved by Governor Sheriff Oborevwori, is designed to provide low-interest financial assistance to eligible businesses, with a single-digit interest rate. Mr Oligida stated that the initiative is a significant step in boosting the state’s economic growth, promoting peace and security, and easing pressure on government resources.

“The Governor has taken this step as a social responsibility to ensure that entrepreneurs who traditionally have limited access to banking credit are supported,” Oligida said. He added that the loan would empower entrepreneurs, enhance economic development, and ultimately improve the livelihoods of those most in need.

Oligida explained that the loan fund will be managed by the Bank of Industry (BOI), the country’s largest development financing institution, with the Ministry of Trade and Investment working closely to ensure transparency in the application process.

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Speaking further, Oligida noted that the Oborevwori-led administration has made economic development a key priority, with initiatives focused on improving infrastructure across education, healthcare, and road networks. The commissioner lauded Governor Oborevwori’s MORE AGENDA, for focusing on meaningful development, opportunities for all, realistic reforms, and enhanced peace and security into tangible outcomes for Deltans.

The ₦1 billion loan scheme is expected to provide much-needed capital to entrepreneurs, driving the state’s efforts to alleviate poverty and foster sustainable growth.