Engineer Sule presents N22m cheques to 10 pioneer beneficiaries of youth revolving fund scheme to start own business

Nasarawa State Governor, Engineer Abdullahi Sule, has presented cheques of various amount ranging from three million naira, to the first batch of beneficiaries numbering 10, of the N500m Bank of Industry/Nasarawa State Government Youth Revolving Fund Scheme.

Engineer Sule presented the cheques to the beneficiaries at a brief ceremony at the Government House, on Monday.

The Governor, who couldn’t hide his excitement seeing his vision being translated into reality, informed the beneficiaries that by the gesture, his administration is trying to reduce some of the challenges they will confront while setting up their businesses.

Engineer Sule expressed delight that he is taking a break from politics and election, to witness the epoch making event.

“It’s exciting really these days to do something outside politics. This is something different and exciting that something like this is coming on a day like this. I am very happy each time you have a dream and that dream is fulfilled, you feel satisfied,” he stated.

He particularly commended the Bank of Industry for handling the selection process through which the beneficiaries emerged, while also commending the Human Capital Development Office, chaired by the state Deputy Governor, Dr. Emmanuel Akabe, for the commitment to ensure the event becomes a reality.

Engineer Sule specifically appreciated the Senior Special Assistant and Focal Person Human Capital Development, Habiba Balarabe Suleiman for her tenacity, commitment and dedication, geared towards making the event come to fruition.

The Governor equally thanked the officials of the state Ministry of Finance, Budget and Planning, for making the N250m counterpart funding available, which has succeeded in making the partnership with the BOI a reality.

While congratulating the beneficiaries, Engineer Sule prayed for the success of the businesses the beneficiaries will establish.

The Governor equally lauded the BOI for deeming it fit to set up branch in Lafia, the Nasarawa State capital, which has facilitated the execution of the loan scheme. He promised to grace the official opening of the Lafia branch of the BOI after the March 11 governorship election.

Earlier, in her opening remarks, the Senior Special Assistant to the Governor and Focal Person Human Capital Development, Habiba Balarabe Suleiman, recalled that the Nasarawa State Government and the BOI signed a N500m matching grant agreement for the Youth Revolving Fund Scheme, following which, 59 applications were received, with 21 passing the business viability check.

The SSA explained that, out of the 21, who were invited to pitch their business plan presentation, only 10 were successful.

While thanking Engineer Sule for his continous support, she expressed commitment towards translating the vision of the Governor for the benefit of the people of Nasarawa State.

Also speaking, pioneer State Manager, BOI, Alhaji Abdullahi A., disclosed that the bank will officially launch its Lafia branch office shortly after the March 11 guber election.

He confirmed that the BOI has since received the N250m counterpart funding from the state government, with the bank already reaching out to the beneficiaries, with a view to fast tracking the process for making the loans accessible.

In a vote of thanks on behalf of the beneficiaries, Pharmacist Aminu Hashidu Danjuma, whose company, Get Well Innovations, was among those selected to benefit from the loan scheme, thanked the state government for making the facility available.

Danjuma assured Engineer Sule that the gesture will go a long way towards pushing the vision of the administration to industrialize Nasarawa State.

The beneficiaries equally appreciated the SSA on Human Capital Development for her encouragement while going through the process of the selection.

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