Saturday, April 17African Business News
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Zulum disburses N150m to Borno SMEs

Governor Babagana Zulum of Borno State said he has disbursed N150 million to small and medium scale entrepreneurs (SMEs) inGwoza Council to restore their means of livelihoods.

The over a decade long Boko Haram insurgency claimed 36,000lives with damage to properties worth $9.2 billion (about N3.42 trillion) in Borno, Adamawa, and Yobe states.

According to him, the SMEs comprise1,900 beneficiaries from four communities of Gwoza, Limankara, Pulka and Izge. While disbursing the funds in Gwoza, Zulumsaid: “We’re witnessing another milestone in the history of economic development of the emirate council.

We are today to provide support to SMEs in the historic border town of Gwoza.” He said that N1 million each is to be disbursed to six beneficiaries, while 38 people will receive N500,000 each, adding that 250 others will also receive N50,000 each; and 404 beneficiaries will each collect N100,000, while additional 732 petty traders will each receive N30,000.

He lamented that the insurgents have destroyed SMEs’ means of livelihoods in the four affected communities noting that to rejuvenate the local economy; the government has provided financial support to restore their means of livelihoods and become self-reliant.

Source: Guardian

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