By Maryam Abdul-aziz Usman

DAMATURU — The Yobe State Microfinance Bank has announced plans to provide 2,000 electric motorcycles to residents as part of efforts to ease the impact of rising transportation and energy costs in the state.

The Managing Director of the bank, Prof. Muhammad Ibrahim, popularly known as Sheriff Almuhajir, disclosed this in an interview with Vanguard in his office in Damaturu.

Almuhajir said the initiative was designed to provide residents with an alternative to petrol-powered motorcycles amid rising fuel costs and broader economic challenges.

“Our plan is to provide 2,000 electric motorcycles for the people of Yobe State. So far, 25 motorcycles have been publicly launched by the Governor of Yobe State, Mai Mala Buni,” he said.

According to him, the bank has also introduced other products, including home solar energy systems, Point-of-Sale, POS, terminals and cubicles, as well as a banking application.

He said the products were developed to address some of the challenges facing households, small businesses and other residents.

The managing director said the home solar initiative was aimed at providing an alternative source of electricity for households and businesses affected by the rising cost and challenges of power supply.

He added that the POS terminals and cubicles would support small businesses and expand access to financial services, while the bank’s digital application would enable customers to access banking services more conveniently.

Almuhajir said the interventions were particularly important as the state continued to recover from the effects of the COVID-19 pandemic and years of Boko Haram insurgency.

“Yobe State is just recovering from COVID-19 and the Boko Haram insurgency. We have to do something that will help our people recover and improve their economic activities,” he said.

He said the bank had also introduced special financial packages during Ramadan and Sallah to cater to the needs of customers during the festive periods.

Almuhajir said the initiatives had contributed to increased patronage of the bank, recalling that the institution faced serious financial challenges when he assumed office about seven years ago.

“When I came into office seven years ago, there were no customers at all. Today, we are seeing a beehive of customers,” he said.

The managing director also recalled that the bank had received a notification of closure about seven years ago over inadequate capital and non-performing loans.

He credited Governor Mai Mala Buni’s intervention with helping to prevent the closure of the institution and said the bank had since worked to strengthen its operations and expand its services.

Almuhajir commended Buni for what he described as his commitment to the development of the state, while urging residents to continue supporting efforts aimed at promoting peace and economic recovery.

He also expressed confidence in Baba Malam Wali, who served as Secretary to the Yobe State Government under the Buni administration, saying his experience working closely with the governor would enable him to sustain the administration’s development agenda.

He said the Yobe State Microfinance Bank would continue to introduce products and services aimed at reducing economic pressure on residents and supporting businesses and livelihoods across the state.