The Federal Government would soon begin the disbursement of N500 Billion soft loan to small and medium scale businesses across the country as part of the effort of the current administration to fight poverty and boost economic activities.  According to a press release by Adegbenro Adebanjo, the chief press secretary to Governor Gbenga Daniel,the Vice President, Architect Namadi Sambo, stated this on Saturday at the palace of the Alake of Egbaland, Oba Adedotun Aremu Gbadebo during a courtesy call on the paramount ruler. The vice president who was accompanied to the palace by the Governor of Ogun State, Otunba Gbenga Daniel and the Speaker of the House Of Representatives RT Hon Dimeji Bankole said the loan which will attract a single digit interest rate would be disbursed by the Central Bank of Nigeria.

Architect Sambo said the administration of Dr Goodluck Jonathan was determined to achieve greatness for the country saying the push to a make Nigeria one of the 20 most developed nations by the year 2020 was on course. He said appreciable progress was being made in the efforts to energize the power sector for optimum service delivery to the people of the country. He said his combination with the president will take Nigeria to the next level.

The vice President said he was surprised by the developmental strides achieved by the Ogun State Government acknowledging that the state had been transformed positively from what he saw when he last visited the State six years ago  . “I see a complete transformation from what I saw six months ago when I came here as a consultant to work on the development of some key projects.  Otunba Daniel administration has done well for Ogun State.  I’m sure that the positive transformation would not have been possible without the support of traditional rulers including the Alake of Egbaland,” Architect Sambo stated. 

The vice president also endorsed the ongoing effort to develop a deep sea port in the Olokola Free Trade Zone saying the project on completion would boost the economic development of the country. . He said the Federal Government has commenced the process that would lead to the construction of a light rail system   between Lagos and Oyo state. He said because of the critical importance e of Ogun State, the light rail would pass through its major cities. He described Ogun   as a highly important state with the country’s highest number of higher institutions. He said it was commendable that Ogun has continued to use education to eradicate ignorance, fight poverty and promote employment generation.

Oba Gbadebo who welcomed the vice-president in company of his high chiefs described Dr Jonathan and his deputy as the best combination for the country. He also prayed for their success in all their future aspirations and endeavors.

The vice President was in Ogun State to attend the wedding of the daughter of the former  President, Chief Olusegun Obasanjo.