- KASEDA has disbursed over N1 billion in interest-free loans to about 1,500 MSMEs to support businesses and create jobs
- The loans were provided in partnership with BOI, while another batch of beneficiaries has already been shortlisted for the next round of disbursement
- The state government was urged to introduce mentorship programmes to help young entrepreneurs build sustainable businesses
Legit.ng journalist Victor Enengedi has over a decade’s experience covering energy, MSMEs, technology, banking and the economy.
The Katsina State Enterprise Development Agency (KASEDA) has provided more than N1 billion in interest-free loans to about 1,500 Micro, Small and Medium Enterprises (MSMEs) as part of efforts to expand businesses, boost economic activities and create employment opportunities across the state.
The Director-General of KASEDA, Dr. Babangida Rumah, disclosed this while speaking to journalists on the sidelines of the agency’s pre-budget defence organised by the Katsina State Ministry of Budget and Economic Planning.
Source: UGC
According to him, the funding initiative is being implemented in collaboration with the Bank of Industry (BOI) and reflects the state government’s commitment to supporting entrepreneurs and strengthening the local economy.
Rumah revealed that a fresh group of applicants had already been selected and would soon receive the next round of loan disbursements.
He encouraged petty traders and owners of small businesses to register with KASEDA and apply, noting that adequate funds were available for qualified applicants.
Agency Expands Support Beyond Loans
Beyond financial assistance, Rumah said the agency had distributed starter packs to members of the Nigeria Automobile Technicians Association (NATA) to improve their vocational skills and help them expand their businesses.
He added that the intervention was designed to increase the beneficiaries’ capacity to generate employment while strengthening the state’s small business ecosystem.
The KASEDA chief also praised the Katsina State Government for prioritising investments in MSMEs, describing the sector as a major contributor to economic development, wealth creation and job opportunities.
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Source: UGC
Commissioner Calls for Mentorship Programme
Speaking earlier, the Commissioner for Budget and Economic Planning, Malik Anas, urged KASEDA to complement its entrepreneurship training programmes with structured mentorship for young beneficiaries.
He said mentoring would equip emerging entrepreneurs with the knowledge and business management skills needed to build sustainable enterprises and ensure the government’s investments deliver lasting economic benefits.
Zamfara to revive textile industry
In related news, Legit.ng earlier reported that Zamfara State Governor Dauda Lawal pledged to revive the state’s textile industry, cotton ginneries and oil mills to create thousands of jobs.
He announced the plan after visiting the Glo-Djigbé Industrial Zone in the Republic of Benin with Vice President Kashim Shettima and other governors.
Lawal said restoring the cotton and textile value chain will boost local manufacturing, create employment and improve the state’s economy.
Source: Legit.ng