Government & Politics

FG Sets To Empower Traders With Interest-Free Loans In Kano

traders in Kano

Over 20,000 small scale traders in Kano State are set to benefit from the Federal Government’s interest free loans to promote small and medium scale enterprises (SMEs) in the state.

Alh Rabi’u Bako, the Commissioner for Commerce, Industry, Cooperatives and Tourism in the state, revealed this while speaking to journalists in the state capital on Monday.

“The amount to be given to an individual or organisation would be determined by its repayment capability,” the commissioner said adding that government was determined to promote self-reliance and sustainability.

The commissioner urged interested traders to access the loan which would be repaid in two years in order to benefit from what he described as “lofty objectives” of the scheme.

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Alh Bako said that the scheme was an initiative of the Office of the Vice President, Prof Yemi Osinbajo, to promote micro-enterprises and empower petty traders.

He said that the ministry also organised a workshop aimed at enlightening the public on the processes and procedures of accessing the loan.

Bako urged traders who had yet to register their businesses with the ministry to do so; as well as open an account with the micro finance banks.

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