Borno State Governor, Babagana Umara Zulum on Sunday disbursed N32m cash to 704 small and medium entrepreneurs in the State.
The disbursement bring to N154m the amount given by the governor in the last one week, to boost small businesses, stimulate the local economy and fight poverty.
Disbursing the to the beneficiaries, Governor Zulum charged them to make proper use of the empowerment package given to them.
Speaking to journalists, Zulum said: “we want to empower them, you are aware that many of our people have completly lost their means of livelihood as a result of the insurgency.
” Empowerment is one of the items in our 10 pact agenda, so in fulfillment of our campaign promises we have to empower our people so that they can be gainfully self-employed.
” I appeal to the beneficiaries to make judicious utilization of the little we have given them so that it can grown and make some impact”.
A total of N35.2 million naira was disbursed to entrepreneurs in Sunday’s exercise. Before it, N75 million was earlier distributed to kola nut sellers, N20 million to traders around dandal and another N24 million to traders operating around customs round about in Maiduguri. Each of the beneficiaries also received N50,000 to boost their small businesses.
Before Zulum’s distribution, General Manager of Borno Renaissance Microfinance Bank, Dr. Bello A. Ibrahim said over N1 billion has so far been disbursed within one year, to various clubs and associations.
In December 2019, N384m was distributed to empower street beggars while in January 2020,N515m was disbursed in ‘cash for work’ programme in which 2,862 members “Ecomog”, an outlawed political thuggery group, were paid N30,000 each month for a half of the year. The youths received payments for cleaning the streets.
