Sokoto to disburse N2b to SMEs, says Tambuwal
The Sokoto State Government is planning to disburse about N2 billion to medium and small scale enterprises in the state.
This was disclosed by Governor Aminu Waziri Tambuwal, on Monday, at the commissioning of the Nigeria Agribusiness and Agro-Industry Development Initiative (NAADI) zonal office. The zonal office would cover Sokoto, Kebbi, Zamfara, Niger and Kwara states.
Governor Tambuwal said the fund was a counterpart contribution between the State Government and Bank of Industry (BoI), adding that it would go a long way in energising the industrial and agricultural sectors of the state.
Represented by the Secretary to the State Government, Prof. Bashir Garba, Governor Tambuwal also revealed the plan to domesticate the federal government ease of doing business in the state as to attract potential investors.
He commended the Federal Government for the initiative meant to put the Nigerian economy in the right path.
“This effort will promote public/private partnership, provide technical assistant ND financial syndication within the agricultural sector for industrial development. We will work closely with NAADI on all identified sectors for the mutual benefit of our people,” he said
In her remark, Minister of State for Industry, Trade and Investment, Aishat Abubakar, said NAADI was developed in line with the Nigeria Industrial Revolution plan as an integrated approach to developing agro-industry together with agribusiness as the key to economic growth.
She regretted that the Nigerian economy relies so much on imported manufactured goods including food and beverages among others, costing the country scarce foreign exchange annually.
She said that the initiative would focus on food, beverages industry, textile and garment, leather and leather products as well as inspection services go foster sustained poverty reduction, human capital development and productive and profitable value chain.
Also speaking, the Director, Commodities and Products Inspectorate of the Ministry, Mrs. O. B. Ope-Ewe said Sokoto State has all it takes to turn around the nation’s economy.