Kaduna Govt To Spend N2bn On SMEs, Agric
— March 31, 2014
The Kaduna State Government said it would soon commence the
disbursement of N2 billion for the development of Micro Small Medium
Enterprises (MSMEs) in the state.
The Commissioner for Finance, Alhaji Ismaila Aliyu, disclosed this on Monday in Kaduna at a workshop for managers of micro finance banks from the 23 local governments in the state.
He said the money would also be used to finance agricultural activities.
According to him, the aim is to promote economic activities and open up new areas of employment.
Aliyu said the Bank of Agriculture and the state government had already contributed N500 million each under a programme tagged, `Farmers Entrepreneurship Scheme’, to boost agricultural activities in the state.
The commissioner added that another one billion naira had been contributed by the Bank of Industry and the the state government for issuance to medium and small scale enterpreneurs as from April.
“Part of the conditions is that women would receive 60 per cent of the loan while the youth will get 40 per cent”, he said.
Aliyu said the workshop was meant to sensitise officials of the micro finance banks on the modalities for disbursing the loan and terms of recovery.
In a remark, Mr Edward Marsha, the Executive Secretary, Kaduna State Industrialization and Micro-Credit Management Board, commended the state government for the initiative, saying that it was the first of its kind.
Masha noted that micro finance banks have vital role to play in the development of MSME’s and urged the officials to be diligent in handling the loan process.
The News Agency of Nigeria (NAN) reports that the workshop has as its theme: “Lending Policy and Eligibility Criteria for Partner Micro finance Banks.” (NAN)
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The Commissioner for Finance, Alhaji Ismaila Aliyu, disclosed this on Monday in Kaduna at a workshop for managers of micro finance banks from the 23 local governments in the state.
He said the money would also be used to finance agricultural activities.
According to him, the aim is to promote economic activities and open up new areas of employment.
Aliyu said the Bank of Agriculture and the state government had already contributed N500 million each under a programme tagged, `Farmers Entrepreneurship Scheme’, to boost agricultural activities in the state.
The commissioner added that another one billion naira had been contributed by the Bank of Industry and the the state government for issuance to medium and small scale enterpreneurs as from April.
“Part of the conditions is that women would receive 60 per cent of the loan while the youth will get 40 per cent”, he said.
Aliyu said the workshop was meant to sensitise officials of the micro finance banks on the modalities for disbursing the loan and terms of recovery.
In a remark, Mr Edward Marsha, the Executive Secretary, Kaduna State Industrialization and Micro-Credit Management Board, commended the state government for the initiative, saying that it was the first of its kind.
Masha noted that micro finance banks have vital role to play in the development of MSME’s and urged the officials to be diligent in handling the loan process.
The News Agency of Nigeria (NAN) reports that the workshop has as its theme: “Lending Policy and Eligibility Criteria for Partner Micro finance Banks.” (NAN)
Stay up to date, follow us on Twitter; @LeadershipNGA
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