The ever performing, dedicated and fearless governor of Borno State, Governor Babagana Umara Zulum, to reduce the adverse effects of Boko Haram insurgency on his people, has shared N150 million as grants to the traders in Gwoza Local Government Area of Borno State.
According to Channels news on the distribution of the funds, “N100m was allocated to small and medium entrepreneurs living within Gwoza town, while N50m was allocated to similar traders in Fulka, Izge, and Limankara towns, all in Gwoza LGA.
“Depending on the sizes of their businesses, the jobs they create, and the capacity to pay back what was loaned, six traders received N1m each, 38 traders received N500,000 each, 250 others received N250,000 each, 404 others received N100,000 each and another 732 traders got N30,000 each.
“The Governor explained that the loan/grant with a refundable period of four years is meant to resuscitate businesses and livelihoods destroyed by the Boko Haram insurgents in the communities of Gwoza.
“”Zulum announced that any beneficiary that is able to repay 50% of his or her loans within record time, will enjoy a waiver of the balance of 50%, while those who deliberately fail to repay within the dateline will be made to repay 100% of what they received as loans and grants.
“Zulum shares food to 27,000 vulnerable residents
Meanwhile, 27,000 vulnerable residents of the Gwoza local government received a variety of food items during the Governor’s ongoing two-day humanitarian trip which started on Friday.
“11,000 male residents received food during Saturday’s distribution, while 16,000 female residents are scheduled to receive similar food on Sunday.”