The Sokoto State government has stated that, as part of its efforts to boost the productivity of 14,000 small business owners, it will distribute an additional N2.5 billion to them.
This was made known by Governor Ahmed Aliyu on Wednesday during the state’s NG-CARES disbursement day flag-off event.
According to Aliyu, plans are well underway to assist the business sector and boost trade in order to establish the state as a commercial hub for surrounding states and beyond.
“I have already directed fresh enrolment of 14,000 beneficiaries and made over N2.5bn available for disbursement.
“Today is another significant milestone in our ongoing efforts to bring relief, support and empowerment to the people of Sokoto State.
“The NG-CARES (Nigeria COVID-19 Action Recovery and Economic Stimulus) programme is an initiative aimed at addressing the challenges posed by the COVID-19 pandemic. It represents our collective resolve to recover, rebuild, and restore the livelihoods of our citizens,” he stated.
According to him, the program was started in 2021 by the previous administration, and 810 beneficiaries in the state received N180 million from the Sokoto Small and Medium Enterprises Development Agency.
“I am glad to inform you that under the present administration, SOSMEDA has received N1.5bn with an estimate of 8,590 beneficiaries across the state, which recorded over 800 per cent increase when compared to the 2021 support programme which had 810 beneficiaries.
“In recognition of this significant achievement, the state government would continue to support and empower SMEs in the state through this type of programme and other similar programmes,” he said.
He encouraged the recipients to make use of the assistance in order to revive their businesses and improve the state’s social and economic conditions.
“Let me at this juncture appeal to beneficiaries of this programme to utilise the support given to them wisely, to rebuild their businesses, support their families, and contribute to the economic and social well-being of our communities.
“As a government, we would continue to support programmes and initiatives that would promote entrepreneurship and economic development. We aim to make Sokoto State a hub for business innovation and growth.
“Through our entrepreneurship programmes, we have provided training and financial support to thousands of beneficiaries, enabling them to start or expand their businesses.
“Similarly, I would also want to reassure our business community of the present administration’s determination to assist with capital to boost trade and commerce in the state,” he added.
In order to increase commercial trade in the state, the governor pledged to finish the abandoned Sokoto Central Market.
