GOMBE – The Gombe State Government on Tuesday said that it would release N3.1 billion to 11 Microfinance Banks for distribution to farmers and traders in the state.
The Commissioner for Finance, Malam Hassan Muhammadu, made this known at the conferment of a fellowship on him by the National Institute of Industrialists and Corporate Administrators (NIICA) in Gombe.
Muhammadu was presented a Fellowship Award and Golden Merit Award for Excellence in Transparency, Probity and Accountability at the ceremony.
He said that two billion naira of the amount would be sourced from the Central Bank of Nigeria’s N220 billion intervention funds for the development of micro, small, medium enterprises development scheme.
According to him, N600 million will be made available to over 8,000 farmers to boost farming in the state, while N500 million will go to traders to boost their businesses.
The commissioner said the Gov. Ibrahim Dankwambo administration had distributed 200 tractors, 200 cars and 500 tricycles to beneficiaries at affordable price to empower them economically.
He said that the initiative created 3,500 jobs for youths in the state.
Muhammadu also said that the state government had imported 500 bakery equipment for distribution to bakers to boost their businesses, among others.
“Gov. Ibrahim Dankwambo signed the fiscal responsibility law which transformed our budgetary system and expenditure framework by making them accountable to the people.
“The state is currently working on procurement law and a law that will regulate public private partnership as a means of alternative financing for projects,” he said.
He said that when enacted the laws will attract private investment in public infrastructure.
The commissioner said that the enactment of the fiscal responsibility law had maximised utilisation of public funds and delivery of dividends to the electorate.
Also, the President of IICA, Dr Victor Orisa, said the conferment of the award on the commissioner was in recognition of his transparency and accountability in the discharge of his duties. (NAN)
