Bauchi Government to disburse N1 billion interest-free loans to Traders, artisans
About N1 billion have been earmarked by the Bauchi State government for onward disbursement to traders and artisans in Bauchi state on interest -free loans to augment their businesses.
As contained in a press release, the government said “worried by the decline in economic and commercial activities and increased dependence on government for employment opportunities in Bauchi state Governor Mohammed Abdullahi Abubakar has offered one billion naira interest-free loan to traders and artisans in the state”.
The Press Secretary to the governor, Abubakar Al-Sadique said governor Abubakar announced the offer of the loan on Wednesday while addressing leaders of the state traders and artisans association who paid him a courtesy visit in his office.
Governor Abubakar who observed that Nigerians must embrace businesses in order to reduce over-reliance on government, explained that the loan package was in line with the cardinal objectives of the All Progressives Congress which his administration pursues since inception.
The loan package according to him, will be perfected next week with banks, stressing that it is interest-free.
“It is interest-free so that beneficiaries can repay with ease while also giving them the opportunities to expand the frontiers of their businesses to engage the teeming unemployed youth”. The governor said further.
While responding to the government’s gesture, the state patron of the traders and artisans association Alhaji Salisu Garba Maizuma who assured the governor of judicious usage of the loan appraised the governor for the purchase of land that was given to traders for the expansion of Wunti market and the financial support given to victims of Azare fire disaster.
