The Kwara State Coalition of Business and Professional Associations has urged the Kwara State Government to sign a Memorandum of Understanding with the Central Bank of Nigeria to enable it to access the N220bn Micro, Small and Medium Enterprises Fund.

It stated that the state should meet the conditions for the fund as contained in Section 6.10 of the revised microfinance policy, regulatory and supervisory framework for Nigeria.

The KWACOBPA Chairman, Chief Hezekiah Adediji, spoke in Ilorin on Thursday on behalf of the coalition during the public presentation of its '2016 issues-specific policy materials,' for business growth in the state.

It said the recommendations would be sent to the state's Governor Abdulfatah Ahmed for consideration and possible implementation. He added that the group was of the opinion that the state government should obtain N2bn fund for the benefit of the business owners in the state.

According to the group, if these are done, 20 per cent of collapsed businesses in the state will be resuscitated, and about 35 per cent new jobs will be created. It added that revenue to the government would increase; standard of living would improve and there would be reduction in crime rate in the state by 35 per cent.

It also said the state government should make it a law to set aside one per cent of the state's annual budget to support private sector yearly. It also recommended greater provision of infrastructure such as good road network, bridges, improvement in the power supply and security in the state as well as youth empowerment.