Borno State Governor, Prof. Babagana
Zulum has shared N343 million cash as food aid to internally displaced persons (IDPs) and soft loans to petty traders in Gamboru, Nigerian border town with Cameroon.
Zulum, who was in Dikwa and Gamboru at the weekend, supervised the disbursement of N343m and varieties of food and humanitarian intervention to residents of the border community in Ngala local government area of Borno State.
The total sum of N343 million was shared with N150 million distributed as soft loan and grants to small and medium scale traders, and N193 million disbursed to 48,700 vulnerable residents.
Zulum personally took time to verify the list of beneficiaries, explaining that his action was to ensure only deserving persons were allotted the loans, in the aim to stimulate the local economy.
Nineteen traders received N1 million each, 25 traders received N500,000 each, other categories received between N250,000, N100,000 and N30,000 each, depending on sizes of their businesses, the jobs they create and capacity to off-set loans.
The Governor explained that, the loan/grant with refundable period of four years, was meant to resuscitate businesses and livelihoods destroyed by the Boko Haram insurgents in communities of Gwoza.
As in Biu and Gwoza where similar disbursements were made weeks back, Zulum emphasized in Gamboru, that any beneficiary that is able to repay 50% his or her loans within record time will enjoy waiver of the balance of 50%, while those who deliberately fail to repay within the dateline will be made to repay 100% of what they received as loans and grants.
Aside disbursing N150m to traders, Zulum, disbursed N193 million to vulnerable residents from different communities of Ngala local government.
A combined total of 48,700 residents received cash and variety of food items during the Governor’s humanitarian trip.
Thirty thousand female residents received N5,000 cash and a wrapper each, another 4,372 male residents received N10,000 cash each, while 14,328 male residents, each received a bag of rice, a bag of Maize grain and a bag of beans.
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