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SMEDAN Launches Disbursement of 2021 Conditional Grant Scheme in Borno



SMEDAN launches disbursement of 2021 Conditional Grant Scheme in Borno

By Madu Mohammed , Maiduguri

The Small, and Medium Enterprises Development Agency of Nigeria (SMEDAN) in collaboration with the Borno state government have flagged off the 2021 National Conditional Grant Scheme (CGS), with 2,160 beneficiaries from Borno state.

Speaking at the flagging off of the Conditional Grant Scheme and E commerce which held at the Multipurpose Hall of the Government House, Maiduguri, Governor Babagana Zulum said the flagging off of the Conditional Grant scheme in Borno is not only timely but it will assist the state in recovering from the over decade long insurgency, as the state has suffered economic and social setbacks.

“The CGS support to Small and medium enterprise will not only help in rejuvenating the state economy but promote financial inclusion of the rural SMEs into formal business and introduce them to e commerce”, the governor added.

He said the Borno state government in the last one year has expended N3 billion on cash supports and grants to SMEs in the state in its efforts to revive the economy of the state

The governor urged the members of SME to register with the Borno state E commerce platform to formalize their business by taking advantage of CAC free registration to register their business, stressing that the state government has applied from the federal government to make Banking a free trade zone, which will in turn enhance trade in the state.

While urging the SMEDAN for continued partnership, Governor Zulum thanked the agency for the gesture.

Earlier in his remarks, the Director General of the SMEDAN, Dr Umaru Rada said ” the micro enterprise subsector is critical subsector in the Nigeria enterprise development space . They collectively account for majority of the enterprise and also account for the highest number of jobs created in the economy. Out of 41,543,028 MSMEs in Nigeria as at 2017 survey 41,469, 947 are micro enterprises.”

” This present initiative (conditional Grant Scheme) looks to promoting the activities of micro enterprise accoss the country in the areas of capacity building, access to finance (N50,000 grant), business names registration with Cooperate Affairs Commission (CAC), access to market workspace, technology and delivery of post intervention support”, Dr Rada added.

The DG said ” under the scheme in 2021 about 21,000 micro enterprise will have their business name registered with CAC and received N50,000 grant to support their businesses. Therefore,, enjoy some post intervention support services and be positioned to access other government intervention programmes”.

Also speaking, the Borno state commissioner for Higher Education, Science and Technology Engr Babagana Mallumbe said a total of 2,160 SME will beneficiaries who are mostly from rural areas will benefit from the Conditional Grant Scheme in the state .

He said the ministry is also launching its E commerce platform for SMEs to enhance their businesses and urged the SMEs to take advantage by enrolling their businesses on the portal .

In his vote of thanks, the Borno state commissioner for Trade and Commerce, Hon Yerima Kareto thanked the SMEDAN for partnering with the Borno state government

In her remarks on behalf if the beneficiaries, Mrs Adama Bala thanked the SMEDAN and the Borno state government for the gesture and assured that they will put in good use the opportunity given to them.

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