Borno State Govt Launches Economic Support Programme For SMES

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Borno state government has launched an economic support Programme of one billion naira to small and medium scale businesses.

Governor Babagana Zulum during the launch of the second phase at the Palace of the Emir of Biu charged the beneficiaries to invest the interest free loan facilities wisely.

The Governor had in 2020 released the sum of one billion naira to start the first phase where about 7,200 small scale business men benefited.

Governor Babagana Zulum restated the determination of his administration in empowering small-scale businessmen and women as well as unemployed youths across the state.

He said five thousand entrepreneurs from six local government Areas of Biu, Gwoza, Gomboru Ngala, Monguno, Mobbar and Maiduguri metropolitan are expected to benefit.

Governor Zulum further announced that any benefitiary that repay the fifty percent of the interest free loan facilty will enjoy waiver of the remaining balance.

The commissioner Ministry for Trade, Investment, and Tourism Hon Yerima Kareto enjoined the beneficiaries to put in to proper use the loan facilities given to them to enhance their capital base.

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