Business
THE Bank of Industry, BoI, has disbursed fresh N21million loan to 438 traders in Bauchi State.
The special assistant to Governor Mohammed Abdullahi Abubakar of Bauchi State on Non-Governmental Organisations, NGOs, and Social Investment Programmes, SIPs, disclosed this on Sunday, August 6, after a meeting with officials of the benefiting traders associations.
The traders were beneficiaries of Government Enterprise and Empowerment Programme, GEEP, also known as Market Moni, a federal government revolving loan given to small business owners.
He said that implementation of the programme was in accordance with the President Muhammadu Buhari administration’s 2017-2020 Economic Recovery and Growth Plan, ERGP, which seeks to sustain economic growth and stabilise domestic production through increased funding to SMEs.
“Bauchi state remains determined to optimally utilize the allocation of 39,000 beneficiaries granted to it by the Bank of Industry, the BSSIPO is working closely with interested commercial banks, market aggregators and super agents to facilitate the BVN enrollment, registration and on-boarding of interested persons.”
In his remark, Auwal Shu’aibu, one of the leaders, advised the beneficiaries to repay the soft loans on time as it would enable others to benefit from the gesture since the money is meant to be a revolving fund.
Shu’aibu, who is the secretary of Wunti Market Small Scale Traders Association warned that all avenues would be explored to collect the money back from defaulters.
On his part, Muhammadu Jamilu, chairman of Muda Lawal Motorcycles Sellers Association, advised leaders of various traders associations that benefited from the programme to live up to their responsibilities.
He said that the leaders must ensure the timely payment of the soft loan by their members and urged the beneficiaries to utilise the loan and develop their various business in order to repay back the loan.
Aug 7,2017 @ 14:40 GMT
Tags: BoI Disburses N21m to 438 Beneficiaries in Bauchi federal government GEEP Government Enterprise and Empowerment Programme Muda Lawal Muhammadu Jamilu
