Governor Babagana Zulum has disbursed 154 million naira cash to 704 small and medium entrepreneurs in the state.
The measure was taken to boost businesses, stimulate the local economy and fight poverty.
The distribution exercise took place in two areas of the metropolis, Damboa road and Kulogumna.
At Damboa road, 304 persons received 50,000 naira each while at Kulo Gumna, 400 entrepreneurs benefited with the same amount.
A total of 35.2 million naira was disbursed to entrepreneurs in Sunday’s exercise.
Governor Zulum said disbursement was in fulfillment of his campaign promises to the people, urging the beneficiaries to make proper use of the empowerment package.
Speaking to journalists, the Governor said “we want to empower them, you are aware that many of our people have completly lost their means of livelihood as a result of the insurgency, Empowerment is one of the items in our 10 pact agenda.”
General Manager, Borno Renaissance Microfinance Bank, Dr. Bello Ibrahim said over one billion naira has so far been disbursed within one year, to various clubs and associations.
In December 2019, 384 million was distributed to empower street beggars while in January 2020, 515 million was disbursed in ‘cash for work’ programme in which 2,862 members of the outlawed political thuggery group, were paid 30,000 each month for a half of the year.