BY JONAH NWOKPOKU

The Bank of Industry and Gombe State government are set to disburse N3 billion to Small and Medium-scale Enterprises (SMEs) under the second phase of trade intervention aimed at providing more funds for entrepreneurs in the state.

Flagging off the scheme, Governor Ibrahim Hassan Dankwambo said the fund is to be disbursed as soft and affordable loans to SMEs in the state, to invest in value addition activities in the agro-allied and mineral sectors of the state economy.

He recalled that the state government had two years ago signed a Memorandum of Understanding (MoU) with BOI in order to reposition the economic fortunes of the state. This, according to him, led to the creation of a “Matching Fund” of N1 billion through a joint contribution of N500 million each by the State government and BOI to SMEs engaged in value addition activities in fertilizer blending, groundnut oil processing rice processing, poultry feeds processing, fish  feeds processing and tomatoe processing.

Others are; cosmetic processing, aluminium long span roofing sheet  manufacturing, poultry farming, printing, metal fabrication, block/interlocking molding, carpentry and furniture making.

Dankwambo also disclosed that a site has been provided for Industrial Cluster/Enterprise Zone for groundnut oil millers and rice processors who were before now scattered in different places within the state. “We have directed the Ministries of Works, Water Resources, Trade and Rural Development to provide access roads, water mains, fencing and electricity to this cluster,” he said.

The governor said the scheme has generated hundreds of jobs through cooperative societies and the SMEs. “About 1,380 jobs have been created by 39 cooperative societies while it is envisaged that by the time all the 133 cooperative societies are visited, more than 3,000 new jobs would have been created. And another 6,000 indirect jobs created as well, through the forward and backward linkages of the production processes of the 133 cooperative societies and SMEs,” he stated.