- Governor Uba Sani emphasized President Tinubu’s commitment to poverty eradication through the N200 billion fund for small and medium enterprises
- The initiative aims to stimulate Nigeria’s economy by empowering SMEs, which are crucial for job creation and economic stability
Governor Uba Sani of Kaduna State has highlighted President Bola Ahmed Tinubu’s commitment to eradicating poverty in Nigeria, citing the N200 billion Presidential Intervention Fund and Loan Scheme for Small and Medium-Sized Enterprises (SMEs) as a vital step.
Governor Sani shared this during a town hall meeting in Kaduna, which the Federal Government organized in partnership with the Bank of Industry.
Represented by his Special Adviser on Economic Matters, Mr. Ibrahim Muhammad, Governor Sani noted that the fund includes both grants and loans under the Presidential Conditional Grant Scheme. This initiative aims to stimulate Nigeria’s economy by empowering small businesses.
“This substantial presidential initiative demonstrates that President Tinubu listens to the needs of the people,” he stated. “These stimulus packages will rejuvenate small businesses and manufacturing, significantly benefiting regional and national economies.”
Governor Sani underscored SMEs’ essential role in job creation, innovation, and economic stability. He emphasized Kaduna State’s commitment to creating a favourable business environment and praised the fund’s timing as crucial support for local economic growth and employment.
He also urged stakeholders to raise awareness about the initiative to ensure its broad impact.
Beneficiaries shared stories of how the grants transformed their lives during the event. Mrs. Caroline Bala, who launched a soya milk business after job loss, expressed appreciation, saying she now earns between 10,000 to 15,000 Naira daily. She encouraged the continuation of the program to assist more deserving citizens.
Farmer Mr. Albert Ibrahim shared that his grant enabled him to buy herbicides, resulting in a bumper harvest. At the same time, Summayya Ibrahim expressed hope for further assistance to expand her reach as an entrepreneur. Cartoonist Muktar Aliyu used his grant to purchase specialized software, significantly enhancing his creative work.
Additionally, Mrs. Joy Oghiadomhe from the Bank of Industry outlined the eligibility criteria for the grant and loan schemes, reinforcing the administration’s focus on addressing economic challenges through SME support.
According to the News Agency of Nigeria (NAN), over 100 beneficiaries in Kaduna have received grants under this initiative.
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