The federal government through its Presidential Grants and Loans Scheme for Small and Medium Enterprises (SMEs) has empowered 114 entrepreneurs with business grants in Kaduna.
Some beneficiaries who spoke at a town hall meeting on the Presidential Grants and Loans Scheme for SMEs, organised by the federal government in collaboration with the Bank of Industry (Bo1) in Kaduna said the grant had changed their fortunes.
Mrs. Caroline Bala, one of the recent beneficiaries of the grant, expressed gratitude for the financial assistance that enabled her to start a soya milk business after losing her job.
She disclosed that she now had a thriving soya beans business with daily earnings of between N10,000 and N15,000.
She however urged the organisers to sustain the initiative and ensure that deserving citizens continue to benefit from the grant, which she described as a life-changing opportunity.
Another beneficiary, Mr Albert Ibrahim, said he utilised the grant to purchase herbicides for his farm, resulting in a bumper harvest.
Similarly, Summayya Ibrahim thanked the government for the support, adding that she looks forward to more assistance to enable wider outreach to aspiring entrepreneurs.
The governor of Kaduna State, Malam Uba Sani who was represented by his Special Adviser on Economic Matters, Ibrahim Muhammad, said, “Through these stimulus packages, small businesses and manufacturing enterprises will be revitalised, significantly benefiting both sub-national economies and Nigeria as a whole.”
He also emphasised the importance of MSMEs in driving job creation, innovation, and economic resilience, noting that the Kaduna government is committed to fostering a supportive environment for businesses.
The governor praised the timing of the fund, calling it a valuable support for Kaduna State’s ongoing efforts to boost the local economy, create jobs, and encourage entrepreneurial growth.
He urged all stakeholders to spread awareness of the initiative to maximise its impact.
Explaining the eligibility criteria for accessing the loans, Mrs Joy Oghiadomhe of the Bank of Industry (BOI) said loan seekers must have a registration with the Corporate Affairs Commission (CAC) and a valid Bank Verification Number (BVN) among other requirements.
She noted that the link to apply for the loans will be sent out soon and urged residents to take advantage of the opportunity.
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