Sokoto supports 14,000 businesses with N2.5bn

The Sokoto State government has announced a plan to disburse an additional N2.5bn among 14,000 small business owners in the state, as part of measures to improve their productivity.

Governor Ahmed Aliyu disclosed this on Wednesday, during the flag-off ceremony for the NG-CARES disbursement day in the state.

Aliyu said arrangements were in top gear to support the business community and enhance commercial activities to make the state a commercial hub for neighbouring 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 said.

He said the programme commenced in 2021 during the past administration, with Sokoto Small and Medium Enterprises Development Agency receiving N180m distributed among 810 beneficiaries in the state.

“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 urged the beneficiaries to utilize the support to re-establish their businesses and contribute to the economic and social well-being of the state.

“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.

The governor promised to complete the abandoned Sokoto Central Market, to boost economic trade in the state.