By Usman Aliyu

In a bid to further boost small businesses, the Edo Government has partnered with the Bank of Industry (BOI) and LAPO Microfinance Bank to expand access to credit facilities for Micro, Small, and Medium Enterprises (MSMEs).

Mr Amen Odigie, Managing Director, Edo State Investment Promotion Office (ESIPO), disclosed this on Friday at a crucial information session in Irrua, Esan Central Local Government of the state.

He said the partnership aligned with Gov. Monday Okpebholo’s vision on renewed support for grassroots economic development.

According to him, the initiative is meant to unlock growth for local entrepreneurs across the state.

He also shared other loan opportunities, including the new N75 billion Federal Government MSME intervention fund.

“We are not just waiting for interventions to come to us. We’re actively going out to seek them.

“His Excellency has mandated us to find more financing channels for businesses, and this collaboration with BOI and LAPO is one way we’re delivering on that,” Odigie said.

Mr Joseph Edom, state Manager of BOI, took the participants through the N75bn loan programme, highlighting loan ranges of N1–N5 million with friendly interest rates.

“This fund is here to support business growth. All we ask is that applicants come prepared, with their documents and business properly registered,” Edom said.

Similarly, Ms Sofia Oke, LAPO Microfinance Bank’s Mega Branch Manager, explained the bank’s MSME-tailored products, stressing support for small traders often excluded from conventional banking services.

“We are here for the market women, the artisans, and the micro businesses.

“With the right records and discipline, anyone can grow their business with our support,” she said.

The session also addressed common credit access barriers such as lack of collateral, poor documentation, and business informality.

Participants were urged to register with the Corporate Affairs Commission (CAC) and maintain good credit history to improve their chances of accessing loans.

In a goodwill message, Secretary to the Esan Central Local Government, Pastor Eromosele Davies Oigbochie, who represented the council chairman, reaffirmed the local government’s support for MSME-focused initiatives.

“This is how we build a resilient local economy by empowering our small businesses,” he said. (NAN)(www.nannews.ng)

Editted by Abdulfatai Beki/Joe Idika