one hundred and seventy young people with businesses in Kwara state have received interest-free loans from the state government.
Speaking at the presentation of the loans to the beneficiary in Ilorin, Governor AbdulRahman AbdulRazaq said the initiative was geared towards empowering young people and driving inclusive growth.
According to him the winners got between N250,000 and N3m to start or strengthen their businesses.
He said beneficiaries were made to pass through some rigorous, private sector-led screening processes that began with with over seven thousand applicants.
Governor AbdulRazq explained that the amounts awarded depended on the scale and viability of their business proposals.
He noted that the loans were awarded under a state government’s entrepreneurial platform designed to support initiatives of people not more than thirty five years of age.
Governor AbdulRazaq commended the youngsters for their brilliant ideas and their courage to have their pitches assessed by an independent panel of judges, assuring them of government’s support and mentorship as their businesses grow.
Ali Muhammad Rabiu, Kwara