Sokoto govt pays N168m interest for beneficiaries of BOI loan

Sokoto State Government has paid one hundred and sixty-eight million Naira interest for the beneficiaries of the 2billion Naira Bank of Industry loan to be disbursed to the business community in the state.

Governor Aminu Waziri Tambuwal announced this Saturday while flagging off the commencement of disbursement of the loan to the low level and high-level businessmen in the state, held in Illela town.

Tambuwal said five hundred million Naira would be given to low-level businessmen through the state investment company while one billion, five hundred thousand Naira would be given to large scale businessmen.

He, therefore, explained that the loan would be given to both the indigenes and non-indigenes business community in the state.

Meanwhile, the governor has appealed to the business community in the state to always sympathise with fellow brothers and sisters by offering their wares for sale at an affordable rate.

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He commended illela Local Government communities for their support to the state government.

Speaking earlier, the state commissioner for commerce and industry Hon. Bashir Gidado commended the state government for redeeming its pledge of granting the loan to the business community in the state.

The commissioner therefore appealed to all the beneficiaries of the loan to endeavour to repay it, so as to enable others to benefit.

Gidado further explained that the loan for the low level category would be paid within two years while the high level category would be paid in three years.