In a move poised to reshape the economic landscape of Katsina State,, Governor Dikko Umaru DIkko today launched the
N5 Billion Katsina State SME Growth Fund and DIkko BDS Corp Intervention Programmes
The initiatives aim to empower small and medium-sized enterprises (MSMEs) in the state by providing them with financial resources, business development services, and access to markets.
Governor Radda emphasized that MSMEs are the backbone of any thriving economy.
He highlighted the challenges they face, such as limited access to finance, inadequate business development support, and a lack of tailored support.
He outlined his administration’s commitment to addressing these issues through the launch of these programs.
Governor Radda commended the leadership and management of
The Katsina State Enterprise Development Agency (KASEDA) for their dedication and strong foundation, serving as a cornerstone in the state’s efforts to build a sustainable and thriving economic environment.
He disclosed that several key initiatives are underway to foster a thriving entrepreneurial ecosystem in Katsina State. These include:
Conducting an MSME census to gather critical data on the needs and challenges faced by entrepreneurs.
Cluster mapping across the 34 local government areas to identify and support business clusters with high growth potentials.
Formulating an SME Policy in line with the National MSME Policy.
Launching an Employability Project aimed at enhancing job skills among youths.
Organizing SME Fairs and Clinics to provide a platform for networking, peer review, and interaction with regulatory agencies.
Recognizing the pivotal role of Common Facility Centres in boosting production, Governor Radda’s administration has partnered with the Small & Medium Enterprises Development Agency of Nigeria to renovate, upscale, equip, and take over the running of the Industrial Development Centre (IDC) located in Katsina. State-of-the-art equipment has already been provided in areas like tailoring, garment printing, leather works, packaging machines, and agricultural processing machines. The access road and other facilities are being upgraded for an official public commissioning soon. Plans are ongoing to extend such common facilities to the remaining two senatorial districts based on cluster mapping reports.
As part of efforts to address the challenge of skills upgrades among youths, Governor Radda disclosed that Katsina Youth Craft Village is being revitalized and KASEDA will oversee its affairs, ensuring that youths acquire skills and develop entrepreneurial mindsets.
The Radda-led government also plans to support the Craft Village by purchasing some of the products produced by the trainees. Additionally, modalities are being finalized to stimulate entrepreneurship clubs in all institutions from primary to tertiary levels, fostering an “entrepreneurship from young” approach.
The launch of Dikko BDS Corp
marks the beginning of a new chapter in Katsina State’s economic development. The N5 Billion Katsina State SME Growth Fund and Dikko BDS Corp are testaments to the government’s commitment to empowering its people and driving sustainable socio-economic growth.
To that end, the Dikko BDS Corp, an intervention program designed to transform the economic landscape of Katsina State, will provide tailored support and comprehensive business development services to MSMEs, particularly in underserved communities. It will equip entrepreneurs with the tools, knowledge, and resources they need to thrive by assisting them with:
Advisory services
Training
Facilitating access to financial resources
Access to market
Legal and regulatory compliance support
A total of 136 BDS Corp volunteers, identified across the 34 LGAs (four per LGA), will be equipped and supported to provide on-the-spot advisory services to nano, micro, small and medium enterprises in their local jurisdictions.
Drawn from LGA Council staff, they have been trained and will receive continuous training to handle these new responsibilities.
The volunteers will also assist KASEDA with monitoring, evaluating, and sending bi-monthly reports on the performance of the entrepreneurs.
In the same vein, the second initiative launched is the Katsina State N5 Billion SME Growth Fund, a matching and managed fund collaboration between the Katsina State Government and the Bank of Industry (BOI).
Dedicated to fostering the growth and development of SMEs by providing essential financial resources and support, the Fund is designed to:
Provide financial and business development support for SMEs to expand operations, innovate, and compete on a larger scale.
Stimulate economic development, create jobs, and enhance the entrepreneurial ecosystem in Katsina State.
The contribution structure of the Fund as disclosed by Governor Radda includes:
N1 billion managed fund and N2 billion matching fund from the Katsina State Government.
N2 billion matching fund from the Bank of Industry (BOI).
As a pilot, 10 MSMEs with growth potential have already been identified through a proper needs assessment in each of the 34 local government areas of Katsina. These “low hanging fruit” businesses are expected to generate employment and wealth quickly with the injection of funds, Governor Radda stated.
The Katsina Governor emphasized that this is a loan, not a grant, and advised entrepreneurs to use the funds judiciously to expand their businesses. He highlighted significant interest rate reductions or waivers, with the state covering the cost to ease the burden on entrepreneurs.
To ensure success and repayment, the Dikko BDS Corp will provide comprehensive business development advisory services to loan beneficiaries.
Governor Radda stressed the importance of responsible loan repayment, as the Fund is designed as a revolving fund. Timely repayments will ensure the program’s sustainability and support future entrepreneurs.
The Katsina Governor acknowledged the link between economic instability and insecurity. He emphasized that creating economic opportunities through upscaling MSMEs will lead to job creation, poverty reduction, and a strengthened local economy. This, in turn, will foster social harmony and reduce criminality by promoting economic inclusivity and bridging the gap between different socio-economic groups.
He expressed his sincere appreciation to the Bank of Industry for partnering with the state government on this crucial initiative.
The Director-General/CEO of SMEDAN, Mr. Charles Odii, in his address at the occasion, acknowledged the vital role of MSMEs in the Nigerian economy and the challenges they face, particularly access to finance. He emphasized that the 5 Billion MSME Funds are designed to bridge this gap by providing accessible and affordable financing options tailored to the unique needs of MSMEs in Katsina State.
The DIKKO BDS Corp, named after Governor Dikko Umaru Radda, complements the financial support with a comprehensive business development program. It encompasses mentorship, training, market access, technological integration, and more.
Mr. Odii emphasized the importance of collaboration in achieving the vision of the initiatives. He called upon government agencies, financial institutions, industry leaders, and the wider community to join SMEDAN in nurturing MSMEs and creating an enabling environment for their success.
The integration of BDS and financial support into the state’s economic development strategy goes beyond just improving loan performance. It aims to lay the groundwork for sustainable, long-term economic growth and transform Katsina State into a hub of entrepreneurial excellence.
The launch of the 5 Billion MSME Funds and the DIKKO BDS Corp marks a significant step towards empowering Nigerian MSMEs and driving economic growth. With collaboration and collective effort, these initiatives have the potential to create a thriving, inclusive, and resilient economy for Katsina State and the entire nation.
In attendance at the launch held at Kofar Bai Conference Hall of the State Secretariat were: MD NEXIM Bank: Malam Abba Bello, a Representative of the MD Bank of Industry, and the Representatives of Katsina and Daura Emirs. Others include: Chairman APC Katsina State: Lawal Daura, Chief of Staff Katsina Govt House: Abdullahi Tsauri, and Former DG SMEDAN: Mr Wale Fasanya.
Press Released Signed by Ibrahim Kaula Mohammed Chief Press Secretary to Katsina State Governor.
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Very excellent Initiative by PhD his Excellency Katsina State Governor Dikko Randa, Forward ever Backwards Never Katsina State.I thanks you for looking at the Masses benefits.