Over 20,000 small-scale business owners in Niger State have benefitted from the Niger State Community Action Recovery and Economic Stimulus (NG-CARES) program.
Ahmed Shu’aibu Gwada, the Director General of the Niger State Small, Medium, and Microfinance Agency, disclosed that N3 billion has been disbursed to small, medium, and micro-entrepreneurs across the state’s 25 local government areas.
“This program has been the most impactful of its kind in the history of Niger State,” Gwada stated. “By the end of this year, we aim to reach 30,000 beneficiaries. So far, approximately 20,000 entrepreneurs have received grants ranging from ₦50,000 to ₦600,000, depending on their business type and scale.”
The initiative supports entrepreneurs across various sectors, focusing on nano, small, and medium enterprises, and includes male, female, and vulnerable beneficiaries. To promote fairness and transparency, the agency adopted an online application system supported by the World Bank and the Bank of Industry (BOI).
Gwada explained, “The online platform ensures transparency by eliminating favoritism. Applications are processed based on submitted details, and funds are directly credited to beneficiaries’ bank accounts by BOI. While urban areas see higher participation due to better access to information, we have ensured representation across all local governments and wards.”
Highlighting the administration’s commitment to SME growth, Gwada noted the establishment of a Ministry of Small and Medium Enterprises to bolster entrepreneurial development in the state. He praised the initiative as a significant leap forward, surpassing the achievements of previous administrations in advancing Niger State’s SME sector.
This program underscores the government’s dedication to fostering sustainable economic growth through targeted support for local entrepreneurs.