The Katsina State Enterprise Development Agency (KASEDA) has disbursed over N1 billion in interest-free loans to about 1,500 Micro, Small and Medium Enterprises (MSMEs) across the state to support businesses, stimulate economic activities and create jobs.
The Director-General of the agency, Dr. Babangida Rumah, disclosed this on Tuesday while speaking with journalists on the sidelines of KASEDA’s pre-budget defence organised by the Katsina State Ministry of Budget and Economic Planning.
He said the loans were disbursed in partnership with the Bank of Industry (BOI) as part of the Katsina State Government’s commitment to supporting entrepreneurs and strengthening the state’s economy.
Rumah disclosed that another batch of beneficiaries had already been shortlisted, adding that the next phase of disbursement would commence soon.
‘We have enough funds available for disbursement. We are calling on petty traders and owners of small-scale businesses to take advantage of this opportunity by registering with the agency and applying for the loans,’ he said.
The KASEDA boss also said the agency had distributed starter packs to members of the Nigeria Automobile Technicians Association (NATA) to enhance their vocational skills, support the growth of their businesses and strengthen their capacity to create employment.
He commended the Katsina State Government for its sustained investment in the MSME sector, describing small businesses as key drivers of economic growth, wealth creation and job creation.
Earlier, the Commissioner for Budget and Economic Planning, Malik Anas, urged the agency to introduce mentorship programmes for youths who had benefited from its entrepreneurship training initiatives.
He said such programmes would help beneficiaries build sustainable businesses, improve their managerial capacity and maximise the impact of the government’s interventions.