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Zulum Disburses N154m To 704 SMEs In Borno To Stimulate Local Economy

The sum of N32m cash was on Sunday, disbursed to 704 small and medium entrepreneurs (SMEs) in Borno state by Governor Babagana Zulum.

This sum bring the total amount of money, disbursed in the last one week in the state to N154m, for the boosting of small businesses as well as stimulating the local economy and fight poverty.

The disbursement exercise took place along Damboa road where 304 persons in small businesses received N50,000 each, and at Kulo Gumna where more than 400 benefited the same amount each. Both places are in Maiduguri.

Speaking during the programme, 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: “we want to empower them, you are aware that many of our people have completely lost their means of livelihood as a result of the insurgency. Empowerment is one of the items in our 10 pact agenda, so in fulfillment of our campaign promises we have to empower our people so that they can be gainfully self-employed. I appeal to the beneficiaries to make judicious utilization of the little we have given them so that it can grow and make some impact”.

Earlier, General Manager of Borno Renaissance Microfinance Bank, Bello A. Ibrahim said over N1 billion has so far been disbursed within one year, to various clubs and associations.

A statement posted on the governor’s social media handles said, in December 2019, N384m was distributed to empower street beggars while in January 2020,
N515m was disbursed in ‘cash for work’ programme in which 2,862 members “Ecomog”, an outlawed political political thuggery group, were paid N30,000 each month for a half of the year.

The statement said the youths received payments for cleaning the streets.

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