The Federal Government has disbursed over one-point-three billion naira to strengthen nano businesses in Borno State.
The State Governor, Babagana Umara Zulum, disclosed this at Federal Government town hall meeting on loan and grant scheme in Maiduguri.
The initiative, under the Presidential Conditional Grant Scheme has directly benefited 26,540 small-scale entrepreneurs in an effort to cushion the effect of the fuel subsidy removal in the state.
Zulum, represented by Permanent Secretary, Establishment and Service Matters, Dr. Abubakar Muhammed, said the grants was facilitated by the Bank of Industry in collaboration with the Borno State Government.
He said the scheme aims to empower traders, artisans, ICT operators, food vendors, and transporters with ₦50,000 each to enhance their operations.
Dr. Abubakar explained that the disbursement in Borno State was a critical component of the Federal Government’s commitment to supporting local economies and vulnerable groups.