The Traffic

Federal Government Releases N2.25 Billion to Boost 16,696 Small Businesses in Gombe

By Achimi Muktar

In a bold move to revive grassroots businesses and empower everyday Nigerians, the Federal Government has disbursed a staggering N2.25 billion to 16,696 Micro, Small, and Medium Enterprises (MSMEs) in Gombe State alone—part of a much larger N200 billion national loan scheme.

The announcement came during a buzzing town hall meeting in Gombe, where Dr. Olasupo Olusi, Managing Director and CEO of the Bank of Industry (BoI), sent a strong message: Nigeria’s economic transformation is being built from the ground up.

Represented by the BoI's North East Regional Manager, Mr. Mohammed Maina, Olusi described the disbursement as a core pillar of President Bola Tinubu’s economic revival agenda—one that places MSMEs at the heart of national progress.

“MSMEs bring life to the local economy. They create jobs, provide livelihoods, and drive innovation across sectors,” Olusi stated passionately.

Numbers That Matter

Nationwide, the scheme has already impacted nearly 900,000 beneficiaries, with over N107 billion distributed across Nigeria’s six geopolitical zones. Gombe’s N2.25 billion share proves the state isn’t being left behind in the drive to empower small business owners and rebuild local economies.

Olusi emphasized that this is more than a loan—it’s a strategic investment in Nigeria’s economic backbone. He highlighted that MSMEs represent 96% of Nigerian businesses, contribute nearly 50% to the GDP, and are responsible for 84% of total employment.

“This initiative is unlocking a wave of innovation and prosperity—especially among youth and underserved communities,” he noted.

Gombe State Government Reacts

Echoing this sentiment, Mr. Abdulwahab Sabo, Senior Special Assistant to Governor Inuwa Yahaya on MSMEs, praised President Tinubu’s commitment, saying the financial support is already rippling through Gombe’s grassroots economy.

“MSMEs are the backbone of Gombe’s economy. They create jobs and empower women and youths,” Sabo added, reaffirming the state's dedication to business-friendly policies.

Real Talk With Real Entrepreneurs

The town hall didn’t end with speeches. MSME operators had the floor during a vibrant Q&A session, grilling BoI officials on loan access, repayment plans, and the real-life challenges they face daily. The transparent engagement offered both hope and clarity.

Observers say this intervention marks a turning point for financial inclusion, proving that when the government listens, supports, and funds real people, real change can happen.

With Gombe leading by example, many are now asking: Will other states match this momentum—or be left behind?