Sokoto Releases N1bn to Support SMEs

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By Mohammed Aminu in Sokoto

The Sokoto State Government has released the sum of N1 billion to support small and medium scale enterprises (SMEs) in the state.

The money is part of its counterpart intervention fund to be floated in collaboration with the Bank of Industry (BoI).

Speaking when he led officials on an inspection visit to Sarkin Gobir Adiya Farms in Bodinga Local Government Area of the state, Governor Aminu Tambuwal said local businesses in Sokoto would soon access the funds to boost their capital base and expertise.

He said with the payment, the funds would 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,” he said.

Details later…