Yusuf Gagdi, member representing Pankshin, Kanke and Kanam Federal Constituency in Plateau, has distributed a soft loan worth N45 million to traders in Kanam Local Government Area of the state.
Presenting the cheque of the amount to the beneficiaries on Saturday in Dengi, Gagdi said the gesture was aimed at cushioning the effects of the coronavirus pandemic on businesses in the area.
According to him, the gesture is informed by the devastating effects caused by the deadly virus on businesses in Nigeria and the world.
He explained that the loan was interest-free, saying that it would further boost businesses in the area and the state.
“The business community is playing key role in the economic growth and development of Kanam and Plateau.
“And we all know how the advent of COVID-19 has negatively affected the progress of businesses in the entire country, and the ones in Kanam are not an exception.
“So, I decided to distribute this loan of N45 million to the business community in Kanam to enable them bounce back and grow the economy of the locality and the state.
“This is just the first phase, I shall do more as resources are available,”the lawmaker said.
He said that the loan, which would be repaid after one year, was distributed devoid of party, religious and ethnic affiliations, adding that the funds came from his personal savings.
Speaking at the event, Chairman of the Traders Association in the area, Alhaji Yusuf Inusa, thanked Gagdi for the gesture.
“We have been looking forward to such support, because COVID-19 has grossly affected our businesses.
“So, this gesture will indeed go a long way in promoting and boosting our businesses,” Inusa said.
Similarly, the lawmaker also distributed fifty wheelchairs to People With Disabilities (PWDs) in the area.