Home / Sokoto / Sokoto Disburses N200m to Small/Medium Scale Industries

Sokoto Disburses N200m to Small/Medium Scale Industries

 Gov Aliyu Wamakko

….Set to Revitalise Ailing Fertilizer Company

By Mohammed Aminu 

Sokoto State Governor, Aliyu Wamakko, said arrangements had been concluded for the disbursement of N200 million to small and medium scale enterprises in the state.

He also said efforts were being made to revitalise the state’s ailing Shamrock Fertilizer Company.

Wamakko made the remark Tuesday at the formal opening of the third edition of national trade fair in Sokoto.

He stated that the measure was aimed at stimulating and enhancing business activities in the state, thereby enhancing job opportunities for the youth.

The governor, who was represented by the Speaker State House of Assembly, Alhaji Lawali Zayyana, maintained that no country could develop without strong economic base and as such his administration would not relent in ensuring the growth of businesses in the state.

According to him, the state government had accorded priority to the development of small and medium scale industries in view of its critical role in stimulating economic growth.

He noted that the measure became necessary in view of the need to diversify the economy of the state in order to reduce dependence on crude oil.

On the comatose Shamrock fertiliser company, Wamakko assured stakeholders that the firm would soon be revitalised and upgraded in order to begin the production of fertilizer at competitive price.

“The present administration is committed to not only rehabilitating the ailing Shamrock fertilizer company but would upgrade it to produce quality fertilizer for the benefit of the farmers in the state,” he said.

In a remark, Chairman of Conference of the Northern States Chambers of Commerce, Industry, Mines and Agriculture (CONSCCIMA), Alhaji Sanusu Maijama’a, decried the dearth of industries in the Northern states, which further worsen youth unemployment and poverty in the region.

According to him, the major challenges facing small and medium enterprises in the North included lack of access to needed technology and finance, as well as effective participation in local and international trade.

Maijama’a observed that the state of the existing ones was weak while access to finance was very difficult, which makes private sector investment not promising.

“From Sokoto to Maiduguri and Katsina to Bauchi, the number of small and medium enterprises can be counted on finger tips while incentive for industrial development is not clear.

“Thus, the prospects of private sector investment are not promising as our youth look up to the public sector for jobs that may not be there,”he said.

The Chairman asserted that the gradual promotion of small and medium enterprises was essential to economic growth of the North.

He said the role of trade fairs in trade promotion could be overemphasised, as it provide avenue where goods and services are sold, ideas are exchanged and businesss relationship established.

Maijama’a called on state governments in the North to utilize and harness the abundant natural resources in the region for the development of small and medium enterprises.

In his remark, the Commissioner of Commerce and Industry, Alhaji Shehu Achida, said the aim of organising the trade fair was to draw the attention of both local and international investors to the enormous potentials available in the state.

Achida emphasised that the state government attached great importance to trade fairs, exhibitions of solid minerals and agricultural resources in order to promote the enormous economic potentials in the state.


About admin

Check Also

Why Republicans shouldn’t be so optimistic their tax bill will be a big win

Republicans are on the verge of passing a massive tax cut for businesses that is …

Vladimir Putin suggests US is manipulating key whistleblower on Russian doping

Russian President Vladimir Putin, center, has denied that his country had a state-run doping operation. …

Firefighter killed battling Thomas fire as powerful winds pose new threat

A firefighter died Thursday while battling the Thomas fire as authorities braced for new powerful …

Catholic Church Singled Out In Australian Sex Abuse Report

The bronze statue of Cardinal Moran stands by the entrance of St. Mary’s Cathedral, in …

Please support the site
By clicking any of these buttons you help our site to get better