Sokoto Government and the Bank of Industries (BoI) will disburse the sum
\nof N2b to support small scale businesses in the state.<\/p>\n
Already, the state government said it has released its counterpart fund of
\nN1 billion to BoI for the scheme.<\/p>\n
Malam Imam Imam, the Special Adviser on Media and Public Affairs to
\nGovernor Aminu Waziri Tambuwal, stated this while fielding questions from
\nreporters in his office in Sokoto.<\/p>\n
\u201cAll necessary processes have been concluded and we expect disbursements
\nto start soon after a thorough screening by both the Sokoto State Small
\nand Medium Scale Enterprises Development Agency (SOSMEDA) and the BoI.<\/p>\n
\u201cWe hope to support these entrepreneurs to enable them improve on their
\nbusinesses. A large section of the beneficiaries will be women. By
\nengaging more female entrepreneurs, government is seeking to enhance their
\neconomic status which will have ripple effect on the economy of the state
\nin general.<\/p>\n
\u201cAs for all the beneficiaries, we believe this support will allow them to
\nbe more self-reliant and create additional employment opportunities,\u201d he
\nadded.<\/p>\n
The media aide noted that the terms of the MoU with the Bank of Industry
\nstipulate that the N2b fund will focus on micro, small and medium scale
\nenterprises.<\/p>\n
“This is important because SMEs are critical component in implementing the
\nindustrialization policy of this administration.<\/p>\n
“Sokoto state government is determined to give the people all the required
\nsupport to improve their businesses. The government thereby urges our
\nentrepreneurs, businessmen and women to partner with government to ensure
\nthe success of this important policy,” he stated.<\/p>\n
Malam Imam said government will continue to explore avenues to support
\nbusinesses in the state, adding that government\u2019s decision to set up
\nSOSMEDA was done to harness the potential in the sector for the benefit of
\nthe citizenry.<\/p>\n
\u201cAs you are aware, the role of small scale enterprises in changing the
\nfortune of a given society cannot be over-emphasized. Globally, there has
\nbeen decisive shift of emphasis from the capital intensive, large scale
\nindustrial projects to small and medium scale industries because of their
\nenormous potentials for rapid and sustainable development.<\/p>\n
\u201cApart from their prospect of ensuring a self-reliant industrialization,
\nin terms of ability to rely largely on local raw materials, small scale
\nenterprises are also in a better placed to boost employment and guarantee
\na more even distribution of development in the state, especially the rural
\nareas,\u201d he added.<\/p>\n
Sokoto Government and the Bank of Industries (BoI) will disburse the sum of N2b to support small scale businesses in the state. Already, the state government said it has released…<\/p>\n","protected":false},"author":1,"featured_media":53161,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-60872","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n