The Kogi State House of Assembly has passed a bill into law to establish Kogi State Micro Credit Agency and other five executive bills forwarded to it by the state governor, Capt. Idris Wada
With the passage of the bill which hopefully would be promptly assented to, the state government would be able to access the 2 billion naira Micro Small and Medium Scale Enterprises Fund (MSMEs) from the Central Bank of Nigeria (CBN)
The Agency, when established, would be headed by a General Manager, who will be the chief executive and accounting officer with power to exercise disciplinary control over the staff.
The Agency would have a Governing Board headed by a chairman and have representatives drawn from five ministries, National Association of small scale industries, the General Manager and secretary among others.
The sources of funds for the agency shall include grants from the federal, state and local governments or from any person, institution or organisation, who from time-to-time, might wish to invest in the organisation.
The bill amongst others is to make conscious effort at promoting all inclusive economic growth, developing small businesses and encouraging entrepreneurial activities in the state.
In the same vein, the State House of Assembly has passed into law five other executive bills for a law to establish UEC College of Nursing, Ochadamu, a law to impose tax on goods and services consumed in Hotels, Restaurants event centers, law to make provision for the revenue and expenditure of the twenty one local government councils in the state, law to impose a sales Tax on certain goods in the state and law to establish Kogi State University Teaching Hospital.
Prior to the passage of the bill, Majority Leader, Hon. Yunusa Yakubu moved that the House moved into the committee of the whole House for clause by clause consideration of the bills.
The Speaker, Rt. Hon. Momojimoh Lawal commended members for giving the bills accelerated passage adding that the bills would meet the state government’s policy of poverty reduction and fast tract infrastructural development in the state.
Source: The Graphic
