Governor Babagana Umara Zulum has disbursed 32 million naira cash to 704 SME and medium entrepreneurs in Borno state, bringing to N154m the amount given by the governor in the last one week, to boost small businesses, stimulate the local economy and fight poverty.
The distribution took place along Damboa road where 304 persons in small businesses received N50, 000 each, and at Kulo Gumna at which 400 more, benefited the same N50, 000 each. Both places are in Maiduguri.
A total of N35.2 million naira was disbursed to entrepreneurs in Sundays exercise.
Before it, N75 million was earlier distributed to cola nut sellers, N20 million to traders around dandal and another N24 million to traders operating around customs round about in Maiduguri.
Each of the beneficiaries also received N50, 000 to boost their small businesses.
Governor Zulum charged the beneficiaries to make proper use of the empowerment package given to them, he said, the disbursement was in fulfillment of his campaign promises to the people.
Speaking to journalists, Zulum said Empowerment is one of the items in their 10 pact agenda.
Before Zulums distribution, General Manager of Borno Renaissance Microfinance Bank, Dr. Bello A. Ibrahim said over N1 billion has so far been disbursed within one year, to various clubs and associations.
In December 2019, N384m was distributed to empower street beggars while in January 2020,