In a bid to bolster the Micro, Small, and Medium Enterprises (MSME) sector, Governor Dikko Umaru Radda of Katsina State has sanctioned a significant sum of N3.4 billion.
The initiative, unveiled during the 14th state executive council meeting, underscores the administration’s acknowledgment of the pivotal role MSMEs play in propelling economic advancement.
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Working in collaboration with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the Bank of Industry (BOI), the state government aims to fortify existing businesses and nurture startups by enhancing their operational capabilities and ensuring sustainable growth.
Ibrahim Kaula Mohammed, the Chief Press Secretary to the Governor, revealed the details, emphasizing the commitment to drive job creation, foster economic diversification, and spur enduring development in the state.
The allocated funds, structured as a revolving MSME fund, will be a joint effort between the state government and the 34 Local Government Councils, with the state contributing 30% and the remaining 70% coming from the LGAs.
This strategic move underscores Governor Radda’s resolute dedication to cultivating a dynamic MSME landscape, poised to drive employment opportunities and propel the state towards a path of sustainable prosperity.
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