The Yobe State Government has approved N460.8 million to empower Akara sellers and other small-scale entrepreneurs to consolidate on grassroot economic development, broaden financial inclusion and enhance livelihoods across the state.
The approval was given at the Yobe State Executive Council meeting. The government explained the approval was a demonstration of the commitment of Governor Mai Mala Buni to uplift the vulnerable group, promote self-employment and tackle poverty with a focused initiative for micro and small business owners.
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The government noted that through this initiative, which includes support for Akara vendors, petty traders, artisans, women-led enterprises, and others operating within the informal economy sector, a total of N460.8 million would be disbursed to beneficiaries.
The move aims to enhance business productivity, and household income through the acquisition of equipment, raw materials, and working capital. Small enterprises, according to government officials, are the largest employers and the most resilient part of the economy especially in the rural and semi-urban areas of the state.
The Yobe State Executive Council also said the programme fits well within the policy framework and strategies for promoting entrepreneurship, female economic participation, and building a viable local economy.
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The government stated that Yobe has lately enhanced its social investment initiatives, blending cash transfers with skills development programmes and enterprise development initiatives in the hope of building a strong micro-economy that doesn’t solely rely on government employment.
The government is confident that the programme would make a tangible difference in the living standard of the beneficiaries and add impetus to economic growth through its robust small and medium-sized enterprise’s support that provides for the local consumption in communities across Yobe State.
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It however added that guidelines for the disbursement and selection criteria for beneficiaries would be developed and implemented by the relevant MDAs.
