The Nasarawa State Government has disbursed 50 million naira interest-free loans to 250 community-based businessmen and women in Keffi Emirate Council of Keffi Local Government Area ( LGA) of the State.
Speaking at the symbolic presentation of the cheques in Keffi, the Director General of the Nasarawa State Human Capital Development Agency, Habiba Balarabe Suleiman said the loans were indicative of Governor Abdullahi Sule’s commitment to social development.
She said the programme was formalised through a Memorandum of Understanding (MOU) between the state government and the Keffi Emirate Council Co-operative.
“This is part of our initiative on social development. We are hoping that the quality of their lives will improve and Keffi will record acceleration in its socio-economical indices,” she said.
Suleiman emphasised that the loan is interest-free and must be repaid within one year, with a one-month moratorium.
“It is not a grant, it is a loan and so, they have to pay back because we are hoping that this is a revolving fund scheme,” she said.
She clarified that the beneficiaries were selected through a strict screening process to ensure the funds reach capable hands across all trade sectors and zones within Keffi.
The Director-General noted that the scheme has already been implemented in Awe in Nasarawa South Senatorial District while Akwanga LGA representing Nasarawa North Senatorial District is next in line.
She expressed hope that the initiative would have a ripple effect on the socio-economic growth of Nasarawa State.
