In line with its core mandate of strengthening empowerment schemes for entrepreneurship, the Small and Medium Enterprise Development Agency of Nigeria(SMEDAN) has disbursed N103.5 million across 2,070 in Sokoto state to support their drive for economic self reliance and national development.
The beneficiaries comprising men and women entrepreneurs were drawn from across the 23 Local Government Areas of the state. Ninety representative from each local government were supported with N50,000 each.
According to the agency’s Governing Board Member, Dr Yakubu Maccido Ahmad in a statement, said a total sum of N103 million is being disbursed to beneficiaries through three commercial banks which include , Fidelity, Guaranty Trust and Polaris banks.
He however, expressed displeasure over the inability of Guaranty Trust Bank to commence the payment at the time the remaining two banks were about to complete the disbursement.
The Board Member further disclosed that the payment is being made directly into the account of each beneficiaries.
“In addition, a business name enterprise will be issued to each beneficiary thereby exposing them to formal business. I want to advise them to utilise the grant for the purpose it was meant for.” Ahmad stated.
He also expressed appreciation to President Muhammadu Buhari, leader of APC in the State, Senator Aliyu Magatakarda Wamakko, Chairman, Governing Board of SMEDAN, Femi Pedro, as well as, the Director General of the Agency, Dr. Dikko Umar Raddah for their tireless efforts which led to the success recorded.
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