Olatunbosun Oyintiloye, a prominent member of the ruling All Progressives Congress (APC) in Osun State, has applauded President Bola Tinubu for the recent launch of the N200 billion Presidential Intervention Fund aimed at supporting Micro, Small, and Medium Scale Enterprises (MSMEs) and manufacturers in Nigeria. Speaking to journalists in Osogbo, the Osun State capital, Oyintiloye commended the initiative but advised the President to ensure strict monitoring of fund distribution to achieve its intended objectives.
Highlighting the significant economic contributions of MSMEs to the nation’s Gross Domestic Product (GDP), Oyintiloye emphasized the importance of the intervention fund in boosting the economy, creating jobs, promoting innovation, and stimulating economic growth and diversification. He stressed the need for President Tinubu to personally oversee integrity checks on the distribution process to prevent any form of sabotage.
With MSMEs contributing over 45 per cent to the country’s GDP and accounting for nearly 90 per cent of jobs, Oyintiloye underscored their pivotal role in national development. He emphasized that as MSMEs grow, they create more jobs, enhance GDP through domestic production and exports, and ultimately contribute to prosperity and reduced insecurity across the country.