Governor Babagana Umara Zulum of Borno State in Northeast Nigeria, on Saturday, shared N150m as soft loans and grants to small and medium-scale traders in Gwoza Local Government Area of Southern Borno.
This was disclosed in a statement signed by the Governor’s Special Adviser on Public Relations and Strategy, Malam Isa Gusau.
The statement revealed that from the funds, N100m was allocated to small and medium entrepreneurs living within Gwoza town, while N50m was allocated to similar traders in Fulka, Izge and Limankara towns, all in Gwoza LGA.
Six traders received N1m each, 38 traders received N500,000 each, 250 others received N250,000 each, 404 others received N100,000 each and another 732 traders got N30,000 each depending on the sizes of their businesses, the jobs they create and capacity to refund loans.
The Governor explained that the loan/grant with a refundable period of four years is meant to resuscitate businesses and livelihoods destroyed by the Boko Haram insurgents in communities of Gwoza.
Zulum announced that any beneficiary that is able to repay 50% of his or her loans within record time will enjoy a waiver of the balance of 50%, while those who deliberately fail to repay within the dateline will be made to repay 100% of they received as loans and grants.
Meanwhile, 27,000 vulnerable residents of Gwoza local government received a variety of food items during the Governor’s ongoing two-day humanitarian trip which started Friday.
11,000 male residents received food during Saturday’s distribution which 16,000 female residents are scheduled to receive similar food on Sunday.
Before embarking on his trip, Zulum had deployed dozens of trailers loaded with varieties of food items to Gwoza, for which he is directly supervising distribution.
Before reaching Gwoza on Friday, Governor Babagana Umara Zulum commissioned a 50-bed capacity healthcare centre in Kawuri town of Konduga local government area, in central part of Borno state.
The facility is expected to increase access to public healthcare for villagers in Kawuri, one of the communities where internally displaced persons have been resettled in more than 500 newly built resettlement houses.