Governor Zulum Flags Off Disbursement Of 30,000 Naira Loan To 1,307 Small And Medium Scale Traders In Borno State

… The state Government to create policies to enhance small and medium scale bussiness

Borno state Government is poised to formulate policies that will enhance the growth of new and small scale business by providing financial and technical assistance to improve their businesses.

This was disclosed by Prof. Babagana Umara Zulum during the occasion of cash disbursement and microcredit loan to the beneficiaries of custom market vegetable Trader’s/ Big Shops Owners Association.

The disburment was flagged off by the Borno state Governor, Prof. Babagana Umara Zulum, Saturday morning. The sum of 30,000 Naira as micro-credidt loan to 1,307 traders each, in order to empower Owners of small/medium level businesses in custom market, Monday market, Metro plaza, Budum market and other organized traders with soft loan to boost their businesses.

The Governor also added that, government will review legislations to improve the institutional capacity of Borno investment company and Borno market company to create commercial and entrepreneurs opportunities for the growths.

The Governor also lamented that, it’s unfortunate that today, we have a very high population of unemployed able bodied youths coupled with security challenges that has placed so many people redundant adding that government will do anything possible to promote amall and medium scale businesses.

The Governor, enjoined all the beneficiaries to make effective and judicious use of the loans and endeavour to pay back on time so that other traders can also benefit.

“Any beneficiary who is able to pay 50% of the loan within one year, government will consider weaving the remaining 50% of the loan” said the Governor.

He also directed the ministry of Poverty- Alleviation to put up a mechanism for strict monitoring and supervision of the process.

Ealier, in her welcome address, the acting Permanent Secretary ministry for poverty alleviation and youth Empowerment, Hajiya Aisha Ibrahim Adulralman thanked the Governor for the gesture and assured that the Ministry will ensure that those who benefited from the loan use it judiciously.

In their separate vote of thanks, Alh. Ali Yanaye on behalf of the men and Hajiya Lami Mohammed on behalf of the women were full of thanks and appreciation to Gov. Zulum for the gesture and assured that they will use the loan for the purpose intended.