By
Taiye Bayode
As part of ongoing efforts to formalize small businesses, expand access to finance, and build a more resilient enterprise ecosystem across the state, the Kogi State Government, through the Kogi Enterprise Development Agency (KEDA), on Monday distributed Corporate Affairs Commission (CAC) certificates to hundreds of beneficiaries and formally launched the SMEs Business Support Cooperative, at an event held at the Banquet Hall, Government House, Lokoja.
The event, which had His Excellency, Governor Alhaji Ahmed Usman Ododo, as Chief Host, was attended by members of the Executive Council, heads of Ministries, Departments and Agencies, representatives of financial institutions and development partners, and traders’ associations respectively.
Delivering his address, His Excellency, Kogi State Governor, Alhaji Ahmed Usman Ododo, said the event was more than a ceremonial occasion, describing it as a demonstration of the administration’s commitment to empowering residents to become employers of labour rather than job seekers.
The Governor who was ably represented by the Deputy Governor, His Excellency, Comrade Joel Salifu, explained how small and medium enterprises remain the backbone of every thriving economy, reiterated that business registration opens the door to credit facilities, government interventions, investment opportunities, and participation in wider markets.
Comrade Salifu urged beneficiaries to operate with integrity, maintain proper financial records, pay their taxes, and use their new legal status to build businesses capable of creating employment for others. He commended the leadership of KEDA for advancing enterprise development in the state and formally declared the CAC certificate distribution and the launch of the SME Business Support Cooperative officially inaugurated
Kogi Honourable Commissioner for Commerce and Industry, Alh. Muhammed Muktar Shuaibu, on his keynote address, described the occasion as a landmark event marking two complementary milestones; the formal transformation of informal businesses into recognised legal entities through CAC registration, and the establishment of a support structure to nurture and sustain those enterprises through the newly launched cooperative.
The Commissioner who was ably represented by the SME Secretary, Mrs Osasona Victoria noted that many traders, artisans, and farmers in the state had for long operated outside the formal economy, not for lack of ambition but due to the perceived cost and distance of registration, explaining that this barrier had now been removed.
Mrs Victoria described each CAC certificate as a pathway to credit, government contracts, grants, and partnerships that were previously out of reach, and charged beneficiaries to keep proper business records, pay their taxes as at when due, and operate with integrity as the foundation for lasting business success, commendinh the leadership of KEDA and reaffirmed the commitment of the Kogi State Government to the continued growth of small and medium enterprises across the state.
Commissioner for Finance, Budget and Economic Planning, Hon. Asiwaju Asiru Idris, on his goodwill message, informed beneficiaries that businesses with a capital base of ₦100 million and below are currently exempted from certain tax obligations under a new federal policy, while urging entrepreneurs to still file their returns as required.
Hon. Asiwaju who linked the day’s event to the state’s long-term development agenda, noted that the government’s support for cooperative formation was designed to strengthen the collective bargaining power of small businesses and improve their access to financing, including funds already earmarked for women entrepreneurs in the state.
Earlier, Managing Director of KEDA, Alh. Muhammed Kadiri Okeji, in his welcome address, described the event as a significant milestone in the collective effort of the Kogi State Government to build a vibrant entrepreneurial ecosystem that empowers residents, creates sustainable jobs, and accelerates economic growth, noting that business registration gives entrepreneurs legal recognition, improves their credibility, and enhances their ability to access financing and participate in government and private sector opportunities.
The MD who described the newly launched SMEs Business Support Cooperative as a strategic platform through which entrepreneurs can access affordable financing, business advisory services, market opportunities, and capacity-building programmes, also reaffirmed KEDA’s commitment to designing programmes that promote entrepreneurship among youths, women-owned businesses, and rural enterprises.
Highlight of the event was the presentation was delivered by Prof. John Alabi, who spoke on the importance of cooperative movements to entrepreneurship development.
The Professor identified weak leadership and governance, poor financial record-keeping, and limited networking as key challenges affecting cooperative societies in the sub-region, and urged members of the newly launched cooperative to embrace unity, transparency, and collaboration to achieve sustainable growth.
The occasion also featured the formal presentation of a partnership between KEDA and All-Encompassing Global Consult Limited, aimed at providing beneficiaries with structured training in financial management, bookkeeping, marketing, and enterprise governance, as part of continued efforts to support entrepreneurs beyond the point of registration.
Speaking on behalf of the Kogi State Traders Association, the association’s chairman commended the state government’s continued engagement with the business community and appealed for improved access to affordable cooperative-based financing to reduce traders’ reliance on informal high-interest lending sources.
The event was rounded off with the symbolic presentation of CAC certificates to a cross-section of beneficiaries, alongside grants presented to selected entrepreneurs under the state’s ongoing empowerment initiatives, and a group photograph session.
