Yobe secures interest-free loans for businesses

Mar 09, 2011

Small businesses in the state of Yobe are being offered interest-free loans.

The announcement was made by Permanent Secretary of the Yobe State Ministry of Commerce, Industry and Tourism Alhaji Ligali M Ma'aji, the Daily Trust reports.

He stated that loans worth 200 million naira (€934,928) have been secured.

Mr Ma'aji also drew attention to the large amount of livestock being produced by the state, urging investors to consider what it has to offer.

He added that "the Government has provided [a] conducive enabling environment and necessary incentive to partner with the investors".

Furthermore, the secretary offered reassurances that more than 60 million naira has been spent on security by the authorities to ensure the area remains peaceful.

Last week, This Day reported that the Central Bank of Nigeria is being urged to review the country's capital base rate, as it is currently said to be too low.