Gov. Bello Matawalle has approved the release of N700 million soft loan to traders in Zamfara State, as part of efforts to boost economic activities in the state.
The governor, who met with the leadership of the state chapter of Traders Association on Friday in Gusau, said the money would be released in November and will attract one digit interest.
A statement by Yusuf Idris, the Director-General Press Affairs to the governor, said N50 million would be disbursed to traders in each of the 14 local government areas in the state.
The governor expressed his administration’s determination to empower the business community by securing opportunities for single digit soft loans for small and medium scale businesses.
Mr Matawalle also said the government was discussing with the Bank of Industry to secure another soft loan for the traders and emphasized that the businesses should be guided by the use of local content.
The governor said encouraging economic activities will lead to sustainable peace in the state and urged the traders to create more businesses that will provide jobs for the people.
He assured that his administration would support the actualisation of any economic project that will have direct impact on the economic development of the state.
The governor, who charged leadership of the traders to fashion out good distribution chart for disbursing the loan, donated two 18-seats buses to the association.
In his response, the Chairman of the association, Alhaji Bala Vice, said they were at the Government House to show solidarity with the government and urged the governor to improve ways of alleviating poverty in the state.