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 IFAD, SMEDAN Strenghten Empowered, Established Incubatees With Training On Business Sustenance

Empowered and established ifad/life-nd beneficiary (incubatees) in Ondo State have been trained on how to sustain their businesses in the face of the challenges engendered by fuel subsidy removal.

The International Fund for Agricultural Development (IFAD) and Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) taught the 35 incubatees on how to surmount the challenges they are currently facing in order to remain in business.

Gathered at SMEDAN Hall & Event Centre, Akure, the farmers drawn from different local government areas include cocoa, cassava, poultry and fishery farmers.

Addressing the farmers, Prince Olawale Ademola, State Project Coordinator, IFAD/LIFE-ND Project, advised them to devise method that could reduce their loss.

He also suggested that they could diversify by going into the sector of the businesses that require less funding.

Represented by Mrs. Ajibade Olukemi, State Rural Institution, Gender and Youth Officer of IFAD, Prince Ademola advised the farmers present and other entrepreneurs that they should study the value chain of the business they are into and delve into it to remain in business.

He urged them to give the agency feedback on their business activities, assuring them that the agency was ready to reward hardwork, efficiency and persistence.

The state coordinator also urged them to strengthen their groups and encouraged to save so that they would benefit in all provisions of the agency.

The State Manager of SMEDAN, Prince Tomi Ikuomola advised all the entrepreneurs to ensure their businesses are registered with Corporate Affairs Commission (CAC), National Agency for Food and Drug Administration and Control (NAFDAC) and get National Identification Number (NIN) in order for them to benefit from loans and other programmes of the agency.

Speaking on Credit/ Loan Mobilization For LIFE - ND Enterprise Groups Representative in selected Communities, the resource person, .Pastor Olorunfemi Samson explained how entrepreneurs could access loans made available by agencies.

He also trained them on how the could explore International market by ensuring their products are packaged to international standard.

The attendees appreciated the agencies for helping them in solving some of the challenges they are currently facing on the businesses due to fuel subsidy removal.


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