BoI, Sokoto Govt Are Targerting Female Owned Businesses With N2BN Loan
Funding reprieve will come the way of small business owners, particularly female owners, in the caliphate city of Sokoto as the government is partnering with Bank of Industry to disburse low interest loans.
About 2 billion naira will be disbursed to support small scale businesses across Sokoto state.
Malam Imam Imam, the Special Adviser to Governor Aminu Tambuwal on Media and Public Relations announced this in a statement on Thursday in Sokoto.
Imam said the state government had released its counterpart fund of 1 billion naira to BoI for the take-off of the scheme.
“All necessary processes have been concluded and we expect disbursements to start soon after a thorough screening of beneficiaries by both the Sokoto State Small and Medium Scale Enterprises Development Agency (SOSMEDA) and the BoI.
“We hope to support these entrepreneurs to enable them improve on their businesses as most of the beneficiaries will be women,’’ Imam said.
According to him, by engaging more female entrepreneurs, government is seeking to enhance their economic status, which will have ripple effect on the economy of the state in general.
“As for all the beneficiaries, we believe this support will allow them to be more self-reliant and create additional employment opportunities,” he added.
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