Owners of 411 MSMEs to benefit from over N200m grant from World Bank
Governor Abubakar Sani Bello of Niger State has urged grant recipients of the Nigeria Covid-19 Action Recovery Stimulus Program (NG-CARES) to be cautious so as to have a multiplier effect to boost their businesses and become employers of labour.
Governor Sani-Bello said so when he symbolically presented checks to some of the 411 recipients of the second phase of NG-CARES Result Area 3 at Government House, Minna.
The governor, who observed that there are not white-collar jobs available for everyone, hailed the initiative as it will help reduce the rate of unemployment and poverty in the society.
He urged recipients to be good ambassadors by using the grant wisely to boost their businesses.
“It is an effort to reduce unemployment, so it is expected that when you receive this grant, it will benefit your business at the same time, encourage other people, especially graduates who are moving for office jobs, there are no more office jobs,” he said.
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Earlier, Commissioner for Budget and Planning, Mallam Zakari Abubakar explained that NG-CARE aims to help Micro, Small and Medium Enterprises (MSMEs) recover from economic hardship caused by the COVID pandemic -19.
Abubakar disclosed that out of the total sum of N203.4 million for the 411 beneficiaries, N300,000 million is for operational support grant for 253 beneficiaries, 100 beneficiaries will receive N600,000 each while 58 beneficiaries will each have 300,000 naira to ease the financial burden.
He said that 239 companies had already benefited from the sum of N71.7 million in the first phase.
The commissioner said the support came from the World Bank with the Bank of Industry (BOI) as the focal point, adding that the beneficiaries had been carefully selected through a strict process and there was a monitoring mechanism well-planned to ensure the grant achieves its intended purpose.
Niger NG-CARES DG, Ministry of Budget and Planning, Yahuza Abdullahi, said the ministry should oversee all activities as the BOI was responsible for the whole process, selection of beneficiaries to the disbursement of funds.
Some of the recipients expressed their joy and assured that they would use the grant wisely to create wealth and jobs.
The 411 beneficiaries span the entire state.
Governor Abubakar Sani Bello of Niger State has urged grant recipients of the Nigeria Covid-19 Action Recovery Stimulus Program (NG-CARES) to be cautious so as to have a multiplier effect to boost their businesses and become employers of labour.
Governor Sani-Bello said so when he symbolically presented checks to some of the 411 recipients of the second phase of NG-CARES Result Area 3 at Government House, Minna.
The governor, who observed that there are not white-collar jobs available for everyone, hailed the initiative as it will help reduce the rate of unemployment and poverty in the society.
He urged recipients to be good ambassadors by using the grant wisely to boost their businesses.
“It is an effort to reduce unemployment, so it is expected that when you receive this grant, it will benefit your business at the same time, encourage other people, especially graduates who are moving for office jobs, there are no more office jobs,” he said.
ALSO READ FROM NIGERIAN TRIBUNE
Earlier, Commissioner for Budget and Planning, Mallam Zakari Abubakar explained that NG-CARE aims to help Micro, Small and Medium Enterprises (MSMEs) recover from economic hardship caused by the COVID pandemic -19.
Abubakar disclosed that out of the total sum of N203.4 million for the 411 beneficiaries, N300,000 million is for operational support grant for 253 beneficiaries, 100 beneficiaries will receive N600,000 each while 58 beneficiaries will each have 300,000 naira to ease the financial burden.
He said that 239 companies had already benefited from the sum of N71.7 million in the first phase.
The commissioner said the support came from the World Bank with the Bank of Industry (BOI) as the focal point, adding that the beneficiaries had been carefully selected through a strict process and there was a monitoring mechanism well-planned to ensure the grant achieves its intended purpose.
Niger NG-CARES DG, Ministry of Budget and Planning, Yahuza Abdullahi, said the ministry should oversee all activities as the BOI was responsible for the whole process, selection of beneficiaries to the disbursement of funds.
Some of the recipients expressed their joy and assured that they would use the grant wisely to create wealth and jobs.
The 411 beneficiaries span the entire state.
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