The Adamawa State, governor, Ahmadu Fintiri, has unveiled the third phase of his Micro, Small and Medium Enterprises scheme for 65,000 female petty traders, with the disbursement of N50,000 grants to each beneficiary.
The governor while speaking during the inauguration on Tuesday in Yola, explained that the scheme was targeted at eradicating poverty and promoting the state’s economic growth.
“The significance of today’s event reinforces the ingenious belief that the instrument for poverty alleviation must be institutional in both concept and operation.
“Today, through this corridor, we are disbursing another N50,000 to each of the 65,000 beneficiaries.
“This exercise will be concluded within the next week, and each beneficiary shall have a working capital before Christmas.
“The programme, known as the Fintiri Business Wallet, has already empowered over 20,000 women in the state, with plans to expand the initiative to include more beneficiaries, both men and women,” he said.
Governor Fintiri also stated that the scheme had also contributed to the stability and economic growth of the beneficiaries’ families.
Fintiri further congratulated the beneficiaries and advised them to make good use of the funds to support the state’s socio-economic development.
The Director-General of the Poverty Alleviation and Wealth Creation Agency, Dr Michael Zira, stated that the disbursement would be carried out in three batches to create a trade-friendly state.
The programme is designed to uplift the less privileged in the state. He further applauded the governor for his steadfastness and commitment to poverty alleviation in the state.
NAN
