Kwara govt, BOI excited as another SME, Dapo Teni Nig Enterprise, expands business

Kwara State Government on Monday expressed satisfaction that more businesses are springing up in the state owing to the business friendly policies and programmes it has created to support business community.

The government said the life wire of any economy is SME and promised to continue to support any initiative that provides jobs and assists local economy.

“This administration supports any initiative that provides jobs, because the life wire of any economy is SME, and when you see a new SME coming up, the government has a duty to rally round such,” Chief Press Secretary to the Governor Rafiu Ajakaye told reporters in Ilorin at the launch of Ella Supreme tissue paper – another brand of Dapo Teni Nigeria Enterprises that attests to Kwara’s good business climate.

Ajakaye, while commending the initiative of owner, Olayinka Oladapo Jogunola, noted that the expansion of the company will complements the government’s efforts at creating jobs for the youth.

“Certainly, a number of people will be hired through the business and for every individual that is hired the resources will trickle down, and that will continue to reduce the rate of unemployment, poverty and destitution that you may have in the society. So we are excited, as a government, to also have this company coming up, it is highly commendable. We will encourage more of such to spring up. They should rest assured that the government will continue to come up with policies and programmes that support the business community,” he added.

He said the government is doing its best to groom young enterprenuers by providing interest-free loans for businesses through Kwapreneur, adding that more resources will be made available to expand the beneficiaries of the scheme.

“So far, so good, you have seen what is happening. The fact that you are seeing new firms springing up everywhere attests to the fact that the state is conducive for businesses. Just recently, we saw a cashew processing company that came up and several others that came up in the recent months. If Kwara is not business friendly, they will not be setting up businesses here,” Ajakaye said.

“It shows that the policies of the administration and the body language of His Excellency, the Governor, are working for all of them. Everyone, right from the top of the bureaucracy down to the bottom, now understands the need to be more supportive of businesses. And that is what you are seeing playing out.”

State Manager for Bank of Industry (BoI), Mr Harrison Osauwagboe, said Dapo Teni Nigeria Enterprises remains a reference point for other young entrepreneurs to emulate.
Osauwagboe said the BOI provides platforms for genuine businesses to secure facilities without any back door or influence of any personality, adding that Dapo Teni Nigeria Enterprise has demonstrated that BOI works as a bank in the state.

“BOI is here for you on anything that will create value-addition and what we focus on generally in BOI is the financing of equipment and raw materials. In the case of Teni, we bought additional equipment and raw materials for him so that his products can compete in the market and with his commitment and achievements, the future is bright for him,” he said.

He appreciated the MD Dapo Teni Nigeria Enterprise for his business initiative and for doing the state proud.

Managing Director, Dapo Teni Nigeria Enterprises, Olayinka Oladapo Jogunola, for his part, said the company was launching the product to expand the business, satisfy customers and create employment opportunities for the youth.

He added: “We are doing a launch of our new product called: Ella Supreme tissue paper. It is a high-quality tissue paper, pure and neat, and sealed for proper protection. Within the time of our coming to market, the patronage has been so encouraging that we cannot meet the rate of demand. We thank God for this,” he said.

Oladapo, who said the company found it challenging at the beginning in gaining the customers’ trust, noted that after some time, things began to take shape, adding that a lot of people have also secured jobs with them.

He appreciated the state government for making the business environment conducive, and the BoI for providing funds for the project.

Also speaking, Elerin of Adanla Irese, Dr. David Oyepinola Adedumoye, described Teni as a son with pragmatism and vision to be self-reliant, praising his initiative and wishing him success at all times.

He said what Dapo Teni has done will go a long way to creating more jobs and assist the local economy, applauding the state government and Bank of Industry for raising young enterprenuers through various supports.

“Dapo is like a son to me. We are from the same area, but from inception, I have adopted him as my son because of his initiative. When you see a youth that is pragmatic, a youth that has vision, a youth that is full of mission, what you need to do is to rally round him,” the monarch said.