The Kano State Government on Friday unveiled plan to support small scale entrepreneurs in the state with N25 billion loan.
Adamu Aliyu Kibiya, the Commissioner of Commerce, Investment, and Industry, at a press conference said the loan scheme is part of the state government’s efforts to restore Kano’s reputation as a center of commerce.
Kibiya who spoke in Kano in an interview with popular Radio station, explained that the scheme designed to promote entrepreneurship and job creation, would be launched soon.
He said “We are committed to supporting small business owners, youths, women, and everyone else looking to grow their enterprises and contribute to the state’s economic development,” Kibiya”.
The commissioner stated that the loan scheme is aimed at providing financial support to small and medium-scale enterprises, which are the backbone of the state’s economy.
He noted that the scheme would further provide entrepreneurs with access to capital, enabling them to expand their businesses and create jobs.
Kibiya disclosed that to be eligible for the loan, “business owners must register with the Ministry of Commerce.”
He emphasized the importance of registration, stating that it enables the ministry to identify genuine business owners and provide them with the necessary support.
“The registration process is straightforward and easy,” Kibiya said. “We encourage all business owners to take advantage of this opportunity and register with the ministry.”
The loan scheme is expected to have a significant impact on the state’s entrepreneurship ecosystem.
With about 70% of the funds allocated to small business enterprises, the initiative is poised to promote economic growth and development in Kano State.
In addition to the loan scheme, the Ministry of Commerce is introducing a new system to provide capital to women with small and petty businesses in the state.
The ministry is currently collecting data to support this initiative and provide women entrepreneurs with the necessary resources to develop their businesses.
Kibiya noted that the state government is committed to supporting women entrepreneurs, who play a vital role in the state’s economy. He emphasized that the new system will provide women with access to capital, training, and mentorship, enabling them to grow their businesses and contribute to the state’s economic development.
The loan scheme and the new system for women entrepreneurs are part of the state government’s broader efforts to promote economic growth and development in Kano State.
Kibiya said “The government is committed to providing support to entrepreneurs, small business owners, and women, who are critical to the state’s economic development.”
