23.8 C

Gombe Supports Traders With N750 Fund


1min read

The Gombe State government on Friday flagged off a N750 million Trade Intervention Fund to encourage trade and commerce as well as promote economic development in the state.

Flagging off the distribution of monies from the fund to traders in Gombe, the state capital on Friday, Governor Ibrahim Dankwambo explained t that the fund was set up because of the neglect of the economic sector by past administrations which had led to a decline in commerce.

He lamented that this has resulted into mass youth unemployment and abject poverty as well insecurity in the state, adding that his government was poised to redress the situation.

He recalled that before the Trade Intervention Fund was set up, his administration had earlier initiated a special fund to cater for micro, small and medium enterprises and assured that other interventions aimed at fast-tracking the socio-economic development of the state would still be introduced.

The governor said that one of the goals of setting aside the Trade Fund was to support the Gombe Traders Association to boost trading activities and uplift the living standard of the people.

“The state government is deliberately partnering with JAIZ Bank to administer the Trade Intervention Fund… Consequently, in the memorandum of understanding (MOU) that will soon be signed, JAIZ Bank and the state government will contribute a total sum of N750 million in this first phase, for disbursement to 2,065 traders,” he said.

Also speaking at the flag off ceremony, the Commissioner for Finance, Mohammed Hassan, stated that traders can access loans from the fund interest free and that they would be required to pay back within one year so that others can benefit from the programme.

- Advertisement -

The commissioner stated that state government was not involved in the selection of the beneficiaries as the traders’ associations determined the beneficiaries.



- Advertisement -
- Advertisement -

If you or someone you know has a lead, tip or personal experience about this report, our WhatsApp line is open and confidential for a conversation



Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Support the ICIR

We need your support to produce excellent journalism at all times.


FG ready to crush banditry, Malami boasts as court declares bandits as terrorists

ATTORNEY-GENERAL of the Federation and Minister of Justice Abubakar Malami has said the declaration...

Sanwo-Olu blames Buhari administration’s policies for hike in cooking gas prices

LAGOS State governor Babajide Sanwo-Olu has blamed the hike in cooking gas prices across...

Lalong condemns Plateau killings, calls for arrest of gunmen

PLATEAU State governor Simon Lalong on Friday condemned the killing of residents of Ta’agbe...

Why FCT primary school teachers embarked on indefinite strike – NUT chairman

TEACHERS in primary schools supervised by the local government areas in the Federal Capital...

Al Jazeera offers journalism fellowship

AL Jazeera Media Institute is inviting applications for the fifth edition of the Al Jazeera...

Most Read


Subscribe to our newsletter