Borno State Government on Thursday disbursed N1 billion to small and medium-scale enterprises (SMEs) in five local government areas of Borno South Senatorial District.
The state government noted that the disbursement was aimed at supporting entrepreneurs and boosting business sustainability in rural communities, according to the News Agency of Nigeria (NAN).
Beneficiaries were drawn from Biu, Hawul, Shani, Bayo, and Kwaya-Kusar council areas.
Governor Babagana Zulum said the direct injection of capital into the SME sector is vital for driving grassroots development and promoting self-reliance in ...-insurgency recovery phase.
He emphasized that empowering entrepreneurs would create jobs, stimulate local economies, and strengthen social stability in rural areas.
“Gov. Babagana Zulum of Borno on Thursday disbursed N1 billion to Small and Medium-Scale Enterprises (SMEs) in five Local Government Areas (LGAs) of Borno South Senatorial District.
“Unveiling the disbursement in Biu LGA, the governor said that the funds were intended to support entrepreneurs and enhance business sustainability in rural communities,” the report read in part.
It added, “Zulum said that the direct injection of capital into the SME sector is essential for driving grassroots development and fostering self-reliance in ...-insurgency recovery phase.”
Beyond the N1 billion SME disbursement, Governor Zulum announced the immediate employment of 200 young people from Biu to tackle youth restiveness. He also inaugurated a remodeled “Second Chance School” aimed at providing vulnerable girls and women with skills training, digital literacy, and basic education.
The governor visited Biu Specialist Hospital, where several volunteer health workers were formally employed to support healthcare delivery. He also inspected a 100-unit teachers’ housing estate under construction, intended to attract and retain qualified teaching staff in public schools.
Additionally, Zulum directed the start of rehabilitation work on the Borno State Hotel Annexe in Biu, part of broader efforts to improve infrastructure and public facilities in the area.
The latest N1 billion SME disbursement follows several previous initiatives by the Borno State Government to boost economic recovery and support vulnerable communities.
Earlier, in July 2024, the government disbursed N450 million to 45,000 widows and vulnerable women as palliative support. The initiative was intended to assist families who had lost livelihoods due to the Boko Haram crisis, rather than foster dependency on government aid.