In a bid to alleviate the economic struggles faced by small-scale businesses amidst Nigeria’s enduring economic downturn, Kwara State has initiated a disbursement program targeting over 2,000 cluster-based enterprises across its 16 local government areas. Each business is set to receive N100,000 to stimulate growth and resilience.
Supervised by the office of the Senior Special Assistant (SSA) to the Kwara St6thate Governor on Sustainable Development Goals (SDGs), Mrs. Mariam Imam, the initiative aims to bolster the local economy by supporting grassroots businesses.
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The disbursement process has garnered attention from the United Nations Development Programme (UNDP), with a monitoring and evaluation team dispatched to verify the beneficiaries and ensure transparency in fund allocation. UNDP representative, Joyce Oburu, emphasized the importance of firsthand verification to guarantee that the funds reach deserving recipients.
Oburu outlined the multifaceted nature of the project, which includes not only financial support but also training, mentorship, and coaching to empower MSMEs (Micro, Small, and Medium Enterprises) through a cluster-based approach.
Addressing the media, SSA on SDGs, Mrs. Mariam Imam, clarified that the selection criteria prioritized businesses most in need across the state’s three senatorial districts. She underscored the significance of the cluster-based strategy in safeguarding vulnerable businesses from collapse amid economic challenges.
Commending Governor AbdulRahman AbdulRazaq’s commitment to the state’s welfare, Imam expressed gratitude to the European Union for its partnership in funding the initiative.
The disbursement process has commenced, with beneficiaries expected to receive the grants in their Unity Bank accounts. To ensure accountability, the monitoring and evaluation team will conduct site visits throughout the state over the course of the week.
Dr. Yakub Jaja, the Permanent Secretary of the Ministry of Planning and Economic Development, hailed the initiative as a positive step towards revitalizing the local economy and empowering grassroots entrepreneurs.
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