Sat. Jul 20th, 2024

Nigerian Gov. Abubakar to disburse N1 billion interest free loans to traders

Nigerian Gov. Abubakar to disburse N1 billion interest free loans to traders

NIGERIA

By Samuel Luka

Nigerian Governor Mohammed Abubakar of northeastern state of Bauchi has inaugurated a 13 man committee to handle the disbursement of N1 billion interest free loan to traders across the 20 local government area of the state.‎

Inaugurating the committee on Wednesday at the government house, Abubakar charged members of the committee to discharge their responsibilities diligently by ensuring that the loans are disbursed to all the beneficiaries in the state.

He said the disbursement of the loans was timely considering the efforts of his administration in its fight against poverty, youth restiveness, unemployment and hunger.

“In realisation of the weak financial position of our business men in the state, my administration decided to support the business communities in the state with access to interest free loans for equitable, objective and useful disbursement to the beneficiaries across the twenty local government areas of the state.

“In this light, the government decided to set up a committee that is saddled with the responsibility of implementing and articulating the criteria of selecting the potential beneficiaries of the loans, devoid of sentiments”, he said.

On his part, Chairman of the Bauchi traders and marketers association, Alhaji Azare, commended the government for providing the loan with zero interest for business men in the state, assuring that the loans will be paid as arranged.

In his remark,the Chairman of the committee, Alhaji Ado Wanka, laud the governor for finding them worthy of the assignment, promising that they will justify the confidence reposed on them.

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