Zulum Gives N154m to SMEs in Borno

Bama Cap Sellers Cooperative receive their cheque from the Governor, Prof. Zulum

 Zulum disburses N154m to 704 SMEs in Borno

By Sadiq Abubakar

Governor Babagana Umara Zulum on Sunday December 20, 2020 disbursed N154m cash to 704 small and medium entrepreneurs in Borno state as part of ongoing measures to boost business, stimulate the local economy and fight poverty.

The distribution took place in Damboa road where 304 persons in small businesses received N50, 000 each, and at Kulo Gumna where 400 others received the same N50,000 each.

Caps on display for sales

A total of N35.2 million naira was disbursed to entrepreneurs in Sunday’s exercise.

Before it, N75 million was earlier distributed to cola nut sellers, N20 million to traders around dandal and another N24 million to traders operating around customs roundabout in Maiduguri.  Each of the beneficiaries also received N50,000 to boost their small businesses.

At the Sunday’s programme, Governor Zulum charged the beneficiaries to make proper use of the empowerment package given to them, he said, the disbursement was in fulfillment of his campaign promises to the people.

Speaking to journalists, Zulum said: “we want to empower them, you are aware that many of our people have completely 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 use of the little we have given them so that it can grow and make some impact”.

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.
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