Economy
GOV. Babagana Zulum of Borno has renewed his commitment to support Small and Medium Enterprises (SMEs) to boost economic recovery and employment in the state.
Zulum made the pledge when he visited Coplad Nigeria Ltd. a rice milling factory located on the Maiduguri-Bama highway.
Zulum emphasised the vital role that SMEs play in job creation and poverty alleviation, particularly as Borno State continues to rebuild from over a decade of insurgency.
He directed the Ministry of Commerce, Trade, and Investment to assess the challenges faced by Coplad Ltd. and recommend ways for the government to assist the company.
“The ministry of commerce should look into the problems of this company and make recommendations so that government can support them. One of the priorities of this administration is the provision of support to SMEs in the state,” Zulum stated.
The governor also instructed the Ministry of Agriculture to supply the factory with locally cultivated paddy rice from the government’s stock, ensuring a steady supply of raw materials to support production.
Zulum further encouraged Coplad Ltd. to maintain consistent production, highlighting the importance of sustainable operations for long-term economic growth.
“I want to assure you that we will give you all the necessary support, but I don’t want to see a situation in which your company resumes work and then stops after some days.
“Let’s work toward both short-term and long-term solutions to ensure consistent functionality,” he said.
The governor concluded his visit by encouraging the management of Coplad Ltd. to explore modular expansions of their operations, with the goal of creating more employment opportunities for the people of Borno
NAN report that Zulum has approved and disbursed hundreds of millions of naira to empower SMEs, artisans, and traders across Borno.
NAN report that in 2021, the governor allocated N900 million to support 13,500 SMEs across various local government areas, while providing another N350 million to artisans and traders in Maiduguri and Jere.
Additional initiatives included subsidies for 100 new taxis, 540 tricycles, and direct financial support to over a thousand technicians and traders.
In 2020, Zulum’s administration also disbursed N1 billion to support 7,200 SMEs across numerous associations, including the Maiduguri Monday Market Traders and the Borno State Women Empowerment Association.(NAN)
6th November, 2024.
C.E.
Tags: Gov. Babagana Zulum
