Kaduna to spend N400m on small scale enterprises

The Kaduna State Industrialization and Micro – credit Management Board on Friday said it would spend N400 million on small and medium enterprises in 2014.

Mr Edward Marshal, Executive Secretary of the Board spoke with the News Agency of Nigeria in Kaduna. Marshal said that the fund would be for graduates to enable them develop small businesses.

He said women would get 60 per cent of the allocation and 40 per cent would be for the youths.

Marshal said the beneficiaries would be picked from the 23 local governments of the state and be trained for six months. He said that the money was going to be disbursed to through the Kaduna State Micro Credit Board and micro finance banks.

The Executive Secretary said micro finance banks were the bedrock of basic development for people at the lower class. He commended the leadership of the banks, and their managerial skills and integrity.

According to Marshal, the overall aim of government was to create the enabling environment to facilitate the development of small and medium enterprise clusters across the state.