Zulum approves distribution of N1bn grant for SMEs in LGAs

Governor Babagana Zulum on Tuesday shared N1 billion to about 9,403 micro, small and medium entrepreneurs (MSMEs) as part of his administration’s measures to boost businesses, stimulate the local economy and fight poverty.

Thousands of MSMEs and vulnerable families from Biu and Hawul Local Government Areas benefited from the grant, which aimed to support them in getting sources of livelihood.

A total of N560.3 million was shared to 5,603 entrepreneurs from Biu and another LGA, with each receiving N100,000. Similarly, N439.7 million was shared to support 1,800 youth and vulnerable families in Biu and another 2,000 entrepreneurs from the Hawul local government area.

“My administration is resolved to continue supporting small and medium enterprises and youth empowerment. We desire to focus on SMEs to stimulate economic growth, create jobs, and ensure that our youthful population is gainfully engaged,” he said.

Zulum urged the beneficiaries to use the empowerment package given to them properly. He said the disbursement was in fulfilment of his campaign promises to the people.

He challenged the teeming youth to come up with business ideas and innovations at all economic levels while assuring his administration’s commitment to helping them build a flexible economic system in the state.

Zulum also directed the Borno State Social Investment Management Programme (BOSIMP) to identify and screen an additional 2,000 vulnerable youths within the local communities for disbursement.

Meanwhile, Zulum has laid the foundation for constructing 600 two-bedroom semi-detached houses for teachers and health workers in five locations.

He stated that 100 houses would be constructed in each of Biu, Magumeri Hawul and Gubio to accommodate teachers, and another 200 will be constructed at the Borno State University Teaching Hospital for health workers.

According to the governor, each housing estate will have facilities such as a clinic, road and drainage networks, sporting centres, and other social infrastructure.