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Tinubu’s N200bln intervention fund seeks to eradicate poverty in Nigeria – Gov. Sani

"This massive presidential initiative is proof that President Tinubu is a listening leader"

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Governor Uba Sani of Kaduna State has said that President Bola Tinubu is committed to wiping out poverty in Nigeria through the N200 billion Presidential Intervention Fund and Loans Scheme for Small, Medium, and Micro Enterprises (MSMEs).

This initiative, launched in collaboration with the Bank of Industry, aims to empower local entrepreneurs and boost Nigeria’s economy.

At a town hall meeting and sensitization event in Kaduna on Tuesday, Sani said that the fund, comprising the Presidential Conditional Grant Scheme and loan options for MSMEs, will revitalize small businesses and manufacturing enterprises.

This, in turn, will significantly benefit both sub-national economies and Nigeria as a whole.

Represented by his Special Adviser on Economic Matters, Ibrahim Muhammad, Sani applauded Tinubu’s leadership, calling the initiative a demonstration of his commitment to addressing poverty.

He said: “This massive presidential initiative is proof that President Tinubu is a listening leader.

“Through these stimulus packages, small businesses and manufacturing enterprises will be revitalized, significantly benefiting both sub-national economies and Nigeria as a whole.”

The governor also highlighted the crucial role MSMEs play in driving job creation, innovation, and economic resilience.

Kaduna State’s government has pledged to create a supportive environment for businesses, aligning with the federal government’s efforts.

Sani urged stakeholders to spread awareness of the initiative to maximize its impact.

Beneficiaries of the grant shared their success stories at the event. Caroline Bala, who received financial assistance, started a thriving soya milk business after losing her previous job.

She now earns between N10,000 and N15,000 daily and urged the organizers to sustain the initiative.

Mr. Albert Ibrahim, another beneficiary, utilized the grant to purchase herbicides for his farm, resulting in a bumper harvest.

Summayya Ibrahim thanked the government for the support and looked forward to more assistance to enable wider outreach to aspiring entrepreneurs.

Muktar Aliyu, a cartoonist, used his grant to purchase specialized software, greatly impacting his career. He expressed appreciation for the scheme, acknowledging its significant impact.

Joy Oghiadomhe of the Bank of Industry outlined the eligibility criteria for both the grant and loan schemes.

The administration’s focus on MSMEs as a key sector for development aims to tackle economic challenges.

Over 100 beneficiaries in Kaduna have received grants under this initiative, according to the News Agency of Nigeria.

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