The Sokoto state
Government and the Bank of Industries (BoI) will disburse the sum of N2billion
to support Small and Medium scale Enterprises (SMEs) in the state. Already, the
state government said it has released its counterpart fund of N1 billion to BoI
for the scheme.
Malam Imam Imam, the
Special Adviser on Media and Public Affairs to Governor Aminu Waziri Tambuwal,
in a statement, said this while fielding questions from reporters in his office
in Sokoto. “All necessary processes have been concluded and we expect
disbursements to start soon after a thorough screening by both the Sokoto State
Small and Medium Scale Enterprises Development Agency (SOSMEDA) and the BoI.
“We hope to support these entrepreneurs to enable them improve on their
businesses.
A large section of the
beneficiaries will be women. By engaging more female entrepreneurs, government
is seeking to enhance their economic status, which will have ripple effect on
the economy of the state in general. “As for all the beneficiaries, we believe
this support will allow them to be more self-reliant and create additional
employment opportunities,” he added.
The media aide noted
that the terms of the MoU with the Bank of Industry stipulate that the
N2billion fund will focus on micro, small and medium scale enterprises. “This
is important because SMEs are critical component in implementing the
industrialization policy of this administration.”
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