Borno State Governor, Babagana Zulum, has released a grant worth N814 million to 9,154 Micro, Small and Medium Enterprises (MSMEs) to stimulate local businesses in the state.
Zulum gave the grant at the launch of the Borno COVID-19 Action Recovery and Economic Stimulus programme, codenamed ‘BO-CARES’, on Tuesday.
‘BO-CARES’ is Borno State’s domestication of the Federal Government’s ‘NG-CARES’ to mitigate the impact of the COVID-19 pandemic on the poor and vulnerable households and small scales enterprises.
The governor however said the programme would help to minimise youth restiveness by boosting individual and cooperative businesses operated by youths.
Speaking at the event, the Borno State Commissioner for Youth Empowerment, Sports Development and Poverty Alleviation, Saina Buba, whose ministry coordinated the exercise, enjoined beneficiaries to put the grant into proper use to enhance their businesses.
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Buba noted that Governor Zulum has in three years disbursed N4.2 billion to numerous groups to stimulate Borno’s economy.
On his part, the Managing Director of the Borno State Microfinance Bank, Dr. Bello Ibrahim, said Zulum’s administration established an ultra-modern mechanic village to boost MSMEs across the state.
The 9,154 beneficiaries were made up of 4, 024 tricycle operators through their Amalgamated Union of NAPEP riders, 3,130 operators of mobile phone repaired and retailers under the Borno State Association of GSM operators, and 2,000 tailors from the Borno State Tailoring Association.
The event was attended by the Speaker of Borno State House of Assembly, represented by the Deputy speaker, Engr. Abdullahi Askira; former Borno State Deputy Governor, Usman Durkwa; a member representing MMC at the lower chamber of the national assembly, Abdulkadir Rahis, the State APC Chairman, Ali Bukar Dalori; and the APC senatorial candidate for Borno Central, Kaka Shehu Lawan; among others.
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