The Kebbi Government has disbursed N2 billion as revolving loan to proprietors of Small and Medium Scale enterprises.
Gov. Saidu Dakingari made the disbursement in Birnin Kebbi on Thursday.
He said the amount was obtained by the state as loan from the CBN to empower proprietors of small and medium scale enterprises.
He said the scope of disbursement would be expanded and dispelled allegations that the amount had been spent during the 2015 elections.
He said N90 million had been earmarked for distribution to beneficiaries in each local government area through micro finance banks in 11 council areas.
The Chairman of the disbursement committee and Speaker of the state House of Assembly, Alhaji Hassan Shalla, warned beneficiaries against diverting the fund for other purposes.
“Beneficiaries must not make the mistake of regarding the loan as a political gift but plan on prompt repayment”, he said.
In his remarks, the Secretary to the State Government, Alhaji Garba Kamba, said the loan was in two categories.
He said the first category would receive a minimum of N50,000 and maximum of N500,000 to be repaid in 12 months.
He said beneficiaries in the second category would receive a minimum of N500,000 and maximum of N5 million to be repaid in three years.
One of the beneficiaries, Malam Usman Dakingari, commended the state for the loan and urged beneficiaries to ensure prompt repayment for others to benefit. (NAN)