No fewer than 20,000 small-scale traders in Kano will benefit from Federal Government’s interest-free loan.
The State Commissioner for Commerce, Industry, Cooperatives and Tourism, Alh Rabi’u Bako who disclosed this in an interview with newsmen in Kano on Monday said that arrangements have been concluded to provide interest-free loan and that the loan was aimed at promoting small-scale industries which included: cooperative societies, artisans and petty traders.
Bako said that the ministry would continue to sensitize the beneficiaries on the lofty objectives of the loan, adding that government was determined to promote self-reliance and sustainability.
He however 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.
“The amount to be given to an individual or organisation would be determined by its repayment capability,’’ he said. The commissioner urged interested traders to access the loan in order to benefit from what he described as “lofty objectives’’ of the scheme. He said that the loan would be repaid in two years.
Bako added that the scheme was being handled by 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.
