Cooperatives, individuals get N2b for SMEs in Katsina

Katsina State Economic Empowerment Directorate (KASEED) has announced distributing over N2.1 billion to cooperatives and individuals in the state.

Special Adviser to the state governor on KASEED, Abdulkadir Nasir, disclosed this yesterday to newsmen.He said the monies were given as loan to some 90,677 beneficiaries across the state’s 34 local council areas, to set up or expand Small and Medium Enterprises (SMES) in the state.
Nasir said the disbursements were made in two batches with N115.9 million distributed in the first batch, and N1.8 billion to selected beneficiaries for the second batch.

He said the directorate in collaboration with North West Entrepreneurship Development Centre (NWEDC) conducted entrepreneurship training for some 500 unemployed youths that were selected from across the state.

In addition, he said 283 cooperatives, representing 14,150 beneficiaries got N706 million, while 34 other associations of two persons from each of the 361 wards, got N70 million for start up, as well as expansion of their businesses.He added that 60 percent of the youths were women and rest 40 per cent men, adding that each of them was given a grant of N100, 000 as capital to set up SMEs.