SOSG Expends N2 B On MSMEs Development

Sokoto state Governor, Aminu Waziri Tambuwal has said that his administration has in the last couple of years spent N2 billion on the development of entrepreneurship in the state.

The sum spent on provision of capital to entrepreneurs “and reactivation of some moribund industries in the State” was raised by the government in collaboration with the Bank of Industry.and disbursed as Micro, Small and Medium Enterprises (MSMEs) Development loan to beneficiaries.

Gov. Tambuwal disclosed this on Saturday when he closed a three days entrepreneurship skills development training for 130 youth in the state organized by the Sokoto State Small and Medium Scale Enterprises Development Agency (SOSMEDA) held at the state capital.

According to the Governor, another sum of N1. 5 billion will also be provided soon to poor and vulnerable households and the MSMEs “impacted negatively” by the Covid-19 Pandemic. 

The money, provided by the World Bank,  which responded to a call for intervention by the Nigeria Governors' Forum (NGF) for provision of soft landing to states on the effects of the disease, will soon be accessed by the potential beneficiaries.

“I am pleased to inform you that Sokoto State has successfully completed the documentation for eligibility and implementation will soon commence,” Gov. Tambuwal said, stressing that the money will be disbursed “as grants to 7,224 Entrepreneurs in Sokoto State.”

The two interventions, the Governor explained, is in realization of the roles of MSMEs in economic development and poverty alleviation in the state.
He added that apart from opening up the vast rural areas of the State and creating series of employment opportunities, they serve as springboards through which indigenous entrepreneurs can undertake ventures in the manufacturing and production sectors and eventually attract investments through partnership. 

In his address, the Special Adviser to the Governor on SOSMEDA, Akibu Dalhatu, said the training was designed to strengthen the capacities of youth in the state and empower them through a combination of information communication and entrepreneurship skills acquisition that ensures innovative approach to enterprise creation.


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