Katsina Gov Approves N3.4bn for SMEs Development
• Targets 20 enterprises in each LG
‘Francis Sardauna
Katsina State Governor Dikko Umaru Radda has approved the sum of N3.4 billion for the development of Small and Medium Enterprises (SMEs) across the 34 local government areas of the state.
The governor unveiled this while signing a N250 million Memorandum of Understanding (MoU) with the Small and Medium Enterprises Development Agency (SMEDAN) in Abuja to boost small scale businesses in the state.
Radda, according to a statement issued to journalists in Katsina by his Chief Press Secretary, Ibrahim Kaula Mohammed, said the state government would collaborate with the 34 local governments to fund the SMEs with the N3.4 billion.
He said each of the 34 local governments would provide a counterpart funding of N100 million, and the government will identify 10 to 20 enterprises in local government for the funding support.
Radda said: “As part of our commitment to grow Katsina’s economy, the state government will collaborate with the 34 local governments to fund our SMEs with about N3.4 billion.
“Each local government is expected to provide N100 million counterpart funds. We shall thereafter identify 10 to 20 enterprises in each local government that will get our funding support.”
He added that another MoU has been signed with the Federal Government-owned Industrial Development Centre (IDC) in Katsina in order to develop and boost the SMEs in the state for a period of three years.
He reiterated that two other IDC would soon be established in Daura and Funtua senatorial zones to make it three, besides the current one which KASEDA will take out its ownership.
Responding, the Director-General of SMEDAN, Mr Charles Odii, expressed delight with the move by the Katsina State Government to partner SMEDAN in advancing the frontiers of the Katsina SMEs.
He said: “This MoU we just signed will help to curb social unrest in Katsina, while making sure SMEs in the state have easy access to finance and the business market.”
