FIC Report (Bauchi State) – The Federal Government, through the Bank of Industry (BoI), is set to inject N1 billion in loans to support 1,000 Micro, Small, and Medium Enterprises (MSMEs) across Bauchi State.
Speaking in Bauchi on Thursday, BoI Project Officer Kabir Saidu Musa announced that the application process is now open. Entrepreneurs can apply online for loans ranging from N1 million to N5 million
Musa explained that this initiative follows an earlier disbursement of N50,000 grants to beneficiaries across Bauchi’s 20 local government areas.
He added, “All applications for the current FGN Intervention Loan are processed online. Once submitted, successful applicants will be referred to our office for verification. We may reach out to conduct visits and make recommendations before final approval.”
Also speaking at the event, Abdulrasheed Aliyu, the Bauchi State representative of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), stated that the agency is providing business development support and training for loan recipients.
According to him, the capacity-building efforts aim to ensure that beneficiaries properly utilize the funds and avoid misuse.
Signed
IBRAHIM ADAMU LADAN
HEAD OF CENTER
