Bauchi State government has launched and disbursed N2billion of the Central Bank of Nigeria, CBN to 16, 150 beneficiaries across the state.
The beneficiaries of the loan scheme emerged where 50 people from each of the 323 electoral wards in the state were carefully selected.
Speaking during the flagging up ceremony held at the multipurpose indoor sports hall, Bauchi yesterday, Governor Isa Yuguda said his administration, in its deliberate efforts had facilitated economic development of the state through enhancing the capacity of the micro, small and medium enterprises.
He explained that, the deliberate policy has manifested in the release of N280million for the recapitalisation of the 12 Micro-finance Banks, MfBs in the state and their transformation from community to Micro-Finance Bank.
The governor said such effort has made the state to have more MfBs than any other state in the North East region.
Similarly, Yuguda disclosed that, in order to sustain micro-finance activities in the state, an agency for sustainable Micro-finance activities saddled with the responsibility of monitoring and supervision was created.
Speaking earlier, CBN Governor, Mr. Godwin Emefiele, noted that, Small and Medium Scale Enterprises, SMEs were recognised as catalysts for rapid growth, job creation and poverty reduction.
He said a total of 17.3 million of small and medium scale are fully operational in Nigeria, stressing that, common challenges the MSME face have been identified to lack of access to affordable financing.
Chairman, Technical Committee for the disbursement, Alhaji Amimu Hammayo, said the programme is aimed at increasing the per-capita income of the beneficiaries through the promotion of SMEs in the state.

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