Governor Babagana Umara Zulum of Borno State on Tuesday released a grant worth N814m to a combined number of 9,154 Micro, Small and Medium Enterprises (MSMEs), to stimulate local businesses.
The governor gave the grant at the launch of the “Borno COVID-19 Action Recovery and Economic Stimulus” programme, codenamed “BO-CARES”.
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‘BO-CARES’ is Borno State’s domestication of the federal government’s ‘NG-CARES’, to mitigate the impact of the COVID-19 pandemic on the poor and vulnerable households and small scales enterprises.
BO-CARES, Zulum explained at the launch, hopes to minimise youth restiveness by boosting individual and cooperative businesses operated by youths.
The combined 9,154 beneficiaries were made up of 4, 024 tricycle operators through their Amalgamated Union of NAPEP riders, 3,130 operators of mobile phone repairers and retailers under the Borno State Association of GSM operators and 2,000 tailors from the Borno State Tailoring Association.
The Commissioner for Youth Empowerment, Sports Development and Poverty Alleviation, Saina Buba, whose ministry coordinated the exercise, enjoined beneficiaries to put the grant into proper use to enhance their businesses.
Buba noted that Governor Zulum has in three years disbursed N4.2 billion to numerous groups to stimulate Borno’s economy.
