Governor Babagana Umara Zulum on Sunday disbursed N154 million cash to 704 small and medium entrepreneurs in Borno State as part of ongoing measures to boost business, stimulate the local economy and fight poverty.
The distribution took place at Damboa Road where 304 persons in small businesses received N50,000 each, and at Kulo Gumna, at which 400 more got the same N50,000 each.
Both places are in Maiduguri.
A total of N35.2 million was disbursed to entrepreneurs in Sunday’s exercise.
Before it, N75 million was earlier distributed to colanut sellers, N20 million to traders around Dandal and another N24 million to traders operating around Customs Roundabout in Maiduguri.
Each of the beneficiaries also received N50,000 to boost their small businesses.
At the Sunday’s programme, 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: “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 utilisation of the little we have given them so that it can grown and make some impact.”
Before Zulum’s distribution, the General Manager, 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, N384 million was distributed to empower street beggars, while in January 2020, N515 million was disbursed in “cash for work” programme in which 2,862 members of “Ecomog”, an outlawed political political thuggery group, were paid N30,000 each month for half of the year.
The youths received payments for cleaning the streets.