The Sokoto state government said it has released the sum of N1 billion to support Small and Medium scale Enterprises, SMEs, in the state.
Spokesman to Governor Aminu Tambuwal, Imam Imam, made this known in a statement on Tuesday, adding that the money is part of Sokoto State’s counterpart fund in a N2 billion intervention fund to be floated in collaboration with the Bank of Industries, BOI.
Imam quoted Governor Tambuwal as making the commitment during an inspection visit of SG Adiya Farms in Bodinga LGA of the state.
The funds will be made available to beneficiaries as soon as the BOI released its portion of the counterpart funds.
“As we stated during the signing of MOU with the Bank of Industry last year, the fund will focus on micro, small and medium scale enterprises,” Tambuwal was quoted as saying.
“This is important because SMEs are critical component in implementing the industrialization policy of this administration.
“Sokoto state government is determined to give the people all the required support to improve their businesses.
“I urge our entrepreneurs, businessmen and women to partner with government to ensure the success of this important policy,” the Governor added.
Tambuwal commended the owner of the SG Adiya Farms, for maintaining standards and providing employment opportunities for many citizens of the state.
He assured that his administration will continue to partner the facility in training of personnel in agri-business as well as providing it with the necessary financial assistance in order to expand its operations for the benefit of the state.
The Governor added that the synergy between the state government and the BOI provides a veritable platform for the State to experience accelerated economic growth and transformation.
Managing Director of Adiya Farms, Abdullahi Adiya, told the governor that the farm has been at the forefront of service to the people of Sokoto for decades.
“We need government’s support to maintain our position as one of the leading farms not only in the North but in the country as a whole,” he added.