Governor Babagana Zulum of Borno state; has disbursed N154 million to 704 small and medium scale entrepreneurs (SMEs) to stimulate and boost the local economy. According to him, the disbursement exercise, along Damboa road and Kulo Gumna business areas, was to fight unemployment and poverty among youths. While disbursing the funds yesterday (Tuesday) in Maiduguri, he disclosed that each of the 304 beneficiaries are each to get N50, 000. He said the 400 Kulo Gumna entrepreneurs, were also each received the same stimulating takeoff grant of N50, 000. He added that the sum of N35.2 million, was also disbursed to dozens of small scale entrepreneurs in Maiduguri metropolis. The distribution exercise took place in two areas of the metropolis, Damboa Road and Kulo Gumna. “The state government wants to empower SME entrepreneurs,” he said, adding that many of the people have completely lost their means of livelihoods as a result of over a decade of insurgency. “Empowerment of youths and women, is one of the items in our 10-piont transformational agenda.” While reviewing the disbursement exercise, the General Manager of the Borno Renaissance Microfinance Bank (BRMB), Dr. Bello Ibrahim said over N1bn has been disbursed this year to various clubs and associations. He said in December 2019, alone, N384 million was released to empower street beggars while in January 2020, N515 million was disbursed in ‘cash for work’ programme. He added that 2,862 members of the outlawed political thug group, were also each paid N30,000 for six months
