Yobe moves to boost SMEs, mulls interest-free loans for traders

From Muhammad Maitela, Damaturu

The Yobe State Government has renewed its commitment to supporting small and medium-scale businesses, with plans to explore measures such as interest-free loans to help traders overcome economic challenges and expand their business.
The Executive Secretary of Yobe State Small and Medium Scale Industries Credit Board, Alhaji Muhammad Alkali, disclosed this during a meeting with leaders of Yobe State Harmonized Traders Association, in Damaturu.
He said the engagement was part of Governor Mai Mala Buni’s efforts to strengthen the state’s economy by working closely with the business community and addressing the challenges affecting their operations.
According to Alkali, the governor directed the agency to meet with traders and business groups to better understand their concerns and identify areas where government support is needed.
“The governor wants to hear directly from the business community. He asked us to engage with them, listen to their challenges, and present their concerns to him so that appropriate action can be taken,” he said.
Alkali explained that one of the key issues discussed during the meeting was access to capital, with many traders lamenting the impact of the current economic situation on their businesses.
He said participants proposed government-backed, interest-free loans as a way of helping traders increase their capital and sustain their businesses.
“Many of the traders complained about inadequate capital, and they are seeking government support to remain afloat,” he noted.
The Executive Secretary assured the traders that their concerns would be forwarded to Governor Buni, expressing confidence that the government would carefully consider their requests.
He stressed that small and medium enterprises remain critical to Nigeria’s economy, contributing significantly to job creation and economic growth.
Alkali also said the state government is encouraging young people to embrace entrepreneurship and make productive use of their talents rather than relying solely on government employment.
“The realities of today require young people to think beyond government jobs. We want our youths to use their creativity, skills, and talents to build businesses and secure their future,” he said.
In his remarks, the Chairman of Yobe State Harmonized Traders Association, Alhaji Mohammed Muktar Kime, commended Governor Buni’s administration for its investment in business community and commercial infrastructure.