The Kano State Government has announced plans to begin the annual disbursement of ₦5 billion in loans, in partnership with the Bank of Industry, to support traders, entrepreneurs and small and medium-sized enterprises across the state.
The loan programme forms part of the state government’s broader strategy to strengthen commercial activities, expand access to working capital and improve profitability among traders and small businesses. Officials say the initiative is designed to reduce poverty, stimulate enterprise growth and deepen Kano’s position as a major commercial hub in northern Nigeria.
Speaking at an engagement with traders at the Beirut Road GSM Market in Kano, the state government explained that the facility targets existing businesses that require financial support to scale operations, improve inventory management and stabilise cash flow in a challenging economic environment.
The government also used the occasion to reaffirm its commitment to creating a safer and more resilient business environment. Plans were unveiled to sensitise traders and business owners on the benefits of Islamic insurance, also known as Takaful, which is expected to provide financial protection against risks such as fire outbreaks and other unforeseen emergencies that frequently disrupt market activities.
In addition to financial and risk-management support, the state government disclosed plans to rehabilitate access roads within the Beirut Road GSM Market. The project is part of wider infrastructure upgrades aimed at easing movement, reducing operational bottlenecks and ensuring smoother business transactions for traders and customers.
The leadership of the Beirut Road GSM Market Traders Association was commended for initiatives focused on member welfare and business sustainability. These include enrolling traders in the contributory healthcare scheme, installing solar-powered streetlights within the market and providing direct capital support to some members to keep their businesses afloat.
Traders at the market described recent government policies as business-friendly and supportive of enterprise growth, noting that improved access to finance, infrastructure and social protection has helped strengthen confidence among small business owners operating in the state’s informal and formal markets.
The development highlights Kano State’s growing focus on MSME-driven economic growth, with public-private collaboration playing a central role in expanding access to finance, reducing business risks and supporting the long-term sustainability of local enterprises.
