Nasarawa Govt Empowers 250 With N50m Interest-free Loan

Nasarawa State government has empowered 250 community-based businessmen and women with N50 million interest-free loans to expand their vocations.

The beneficiaries were drawn from communities in Keffi Emirate Council of Keffi local government area (LGA) of the state.

Speaking during the presentation of cheques to beneficiaries in Keffi, the director-general of the Nasarawa State Human Capital Development Agency, Habiba Balarabe Suleiman, said the gesture was part of Governor Abdullahi Sule’s commitment to social development.

She explained that the programme was formalised through a Memorandum of Understanding (MOU) between the state government and the Keffi Emirate Council Co-operative.

“This is part of our initiative on social development. We are hoping that they will use it as capital to expand their businesses, and by doing so the quality of their lives will improve and Keffi will record acceleration in its socio-economical indices,” she explained.

The director general noted that the facility is not a grant but a revolving loan which is expected to be paid back at the end of the year to enable others to benefit.

“It is not a grant, it is a loan and so, they have to pay back because we are hoping that this is a revolving fund scheme,” she said.

According to her, the beneficiaries were selected through a strict screening process to ensure the funds reached the targeted people across all trade sectors and zones within Keffi.

The director-general noted that the scheme has already been implemented in Awe in Nasarawa South Senatorial District while Akwanga LGA representing Nasarawa North Senatorial District is next in line.

She expressed hope that the initiative would have a ripple effect on the socio-economic growth of Nasarawa State.