The importance of Small and Medium Scale Enterprises (SMEs) to the growth of the economy was re-emphasized on Wednesday at the 4th FATE Foundation Annual Alumni Conference held in Lagos.
Lagos deputy Governor, Dr Kadri Hamzat with participants at the 4th Annual conference of Fate Foundation
Dr. Kadri Obafemi Hamzat, Deputy Governor of Lagos State, who spoke at the event with the theme: Innovating for Scale, assured the organizers that Governor Babajide Sanwo-Olu’s administration is more committed to the funding of Small and Medium Scale Enterprises.
According to Hamzat, the State Government understood that for the Centre of Excellence to build her economy to her highest potential, the small businesses must be encouraged.
The Deputy Governor stated further that the present administration realized the fact that any nation that wanted to do well must support SMEs and small businesses.
According to him, “there are about 3.2million SMEs in the state, the State government is set to assist businesses to be well structured to help SMEs grow without hitches,” adding that, the state government through the Lagos State Employment Trust Fund has given loan to 4900 beneficiaries to boost their businesses.