Sokoto State government has revealed plans to disburse additional 2.5 billion naira to small business owners in the state as part of measure to improve on their productivity.
The state governor, Ahmed Aliyu, disclosed this on Wednesday in his remarks during the flag-off ceremony for the NG-CARES Disbursement Day in Sokoto State.
Aliyu said arrangements are in top gear to support our business community to enhance commercial activities in such a way that the state would become a commercial hub for neighbouring states and beyond.
In the realization of the importance of this programme, he said he has already directed fresh enrolment of 14,000 beneficiaries and made over 2-5 billion available for disbursement
He said, “Today, is another significant milestone in our ongoing efforts to bring relief, support and empowerment to the people of Sokoto State.
“The NG-CARES (Nigeria CcoVID-19 Action Recovery and Economic Stimulus) Program is an initiative aimed at addressing the challenges posed by the COVID-19 pandemic. It represents our collective resolve to recover, rebuild, and restore the livelihoods of our citizens.
“NG-Cares 3.2 Operational Support Grant to SME’s commenced operations in 2021 during the past administration, with Sokoto Small and Medium Enterprises Development Agency (SOSMEDA) received one hundred and eighty million naira (N180,000,000), with 810 beneficiaries across the state.
“I am glad to inform you that, under the present administration, SOSMEDA has received one billion, five hundred million naira (N1.5 billion), with an estimate of 8,590, beneficiaries across the state, which recorded over 800% increase when compared to the 2021 support program which had 810 beneficiaries.
“In recognition of this significant achievement, the state government would continue supporting and empowering SMEs in the state through this type of programme and other similar programmes.
“As we gather here to officially launch the second disbursement phase of this program, we are not just disbursing funds: we are igniting hope, fostering resilience, and paving the way for sustainable development across the 23 local governments of the state through empowering Nano, medium and small enterprise.”
He said the resources being distributed are aimed at mitigating the effects of the pandemic, particularly for the most affected small businesses, vulnerable households and the hardworking people of the state.
“This flag-off ceremony symbolizes the beginning of a new chapter of economic recovery and growth. It is a demonstration of our government unwavering commitment to ensuring that the benefits of this program reach every corner of Sokoto State, touching the lives of those who need it most.
“Let me at this juncture, appeal to beneficiaries of this programme to utilise the support given to them wisely, to rebuild their businesses, support their families, and contribute to the economic and social wellbeing of our communities.
“As a government we would continue to support programmes and initiative that would promote entrepreneurship and economic development. Our aim is to make Sokoto State a hub for business innovation and growth.
“Through our entrepreneurship programmes, we have provided training and financial support to thousands of beneficiaries, enabling them to start or expand their businesses.
“Similarly, I would also want to reassure our business community of the present administration’s determination to assist with capital to boost trade and commerce in the state.
“It is our plan to complete the abandoned re-construction of the Sokoto Central Market which is the arguably
the best market not only in the country but in the sub-Saharan Africa.
“As we officially flag-off this disbursement, let us reaffirm our commitment to the principles of transparency, accountability and inclusivity.
“Let us ensure that the resources provided under this program are used to uplift the living standard of our people and create a lasting positive impact on our dear state,” he said.
The governor however assure the good people of Sokoto state that this flag-off is the beginning of many more successes to come, while seeking continuous corporation from the people of the state.
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