The Sokoto state government has concluded arrangement for the disbursement of 2 billion Naira to medium and small scale enterprises in the state.
Governor Aminu Waziri Tambuwal disclosed this at the commissioning ceremony of the Nigeria Agribusiness and Agro-Industry Development Initiative (NAADI) zonal office which would cover Sokoto, Kebbi, Zamfara, Niger and Kware state in Sokoto on Monday.
The fund which was Sokoto/ Bank of Industry matching fund, the Governor said would go a long way in energizing the industrial and agricultural sectors in the state for economic growth and development.
Represented by the Secretary to the State Government, Professor Bashir Garba, Tambuwal also revealed their plan to domesticate the federal government ease of doing business in the state to attract potential investors.
He commended the federal government for the iinitiative meant to put the Nigeria economy in its rightful position.
“The effort will promote public/private partnership, provide technical assistant ND financial syndication within the agricultural sector for industrial development.We will work closely with NAADI on all identified sectors for the mutual benefit of our people," he said
In her remarks, the Minister of State for Industry, Trade and Investment, Aishat Abubakar said NAADI was developed in line with the Nigeria Industrial Revolution plan as an integrated approach to developing agro-industry together with agribusiness as the key to economic growth.
She regretted that Nigerian economy relies much on imported manufactured goods including food and beverages among others, costing the country scarce foreign exchange annually.
She said that the initiative would focus on food, beverages industry, textile and garment, leather and leather products as well as inspection services go foster sustained poverty reduction, human capital development and productive and profitable value chain.
Also speaking, the Director, Commodities and Products Inspectorate of the Ministry, Mrs. O B Ope-Ewe said Sokoto has all it take to turn around the economy of Nigeria.
"Now we brought the fund and training and we are hoping in the next one year, Sokoto and other states in the zone would be a haven for agricultural businesses," she said.
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