Stephen Ukandu, Umuahia
Reprieve has come the way of Small and Medium Enterprises, SMEs in Abia State as the State Government in collaboration with the Bank of Industry, is set to disburse N10 billon support fund to them.
This was disclosed by the Commissioner for Information, Prince Okey Kanu, during a press briefing of the outcome of this week’s State Executive Council meeting.
He said the gesture was aimed at boosting SMEs for self reliance and economic growth.
According to him, only genuine and registered SMEs with capacity to pay back are eligible to benefit from the fund.
He explained that the loan has a maximum of N50 million with repayment period of three years.
“This fund is meant to be accessed by SME’s across various sectors. The state government has paid up its counterpart funds of N2 billion and Bank of Industry will provide the outstanding N3 billion , bringing it all together to a total sum of N5 billion in the first phase.”
Contributing, the Commissioner for Industry and SMEs, Mazi Mike Akpara, explained that the fund was not meant for people in any particular political party but genuine Abia business men and women.
“I want to reiterate the fact that this is not a political largesse. It is for only those that are involved in genuine businesses. People that can do business with money and pay back.
“It is across sectors. If you are into fashion, you will get it. If you are into agriculture, you will get it . If you are into entertainment, you will get it.
“The move is to make sure the state government encourages youths that are very eager to improve themselves. We are going to make it easier for people to get this money,” Akpara said.
He urged interested SMEs to send in their business proposals for consideration.
Speaking further, the Information Commissioner said that in a bid to reduce poverty and provide empowerment for the women in the state, the State Ministry of Women Affairs, through its Livelihood Collective Project, had built 60 garri and oil palm processing sites across the three senatorial zones of the state.
According to him, 21 sites are at the Isiala Ngwa North Local Government Area for Abia Central; 20 sites at the Obingwa LGA for Abia South; and 19 sites at Ohafia LGA for Abia North.
He said:”This move underscores the high premium the state government places on pulling out as many Abians as possible out of the pangs of poverty.
“These women have been empowered with these projects, and we believe that is the way to go with our women folk,” Prince Kanu noted,”
On job creation, the Commissioner said that the State Executive Council, had directed that the number for the next batch of trainees of the Ethnocentric School of Fashion be increased from 2,000 to 5,000.
“The Governor was a guest of honour at the graduation ceremony of 2,000 youths who passed out recently from the Ethnocentric School of Fashion in a programme tagged:’the Fashion Future Programme.’ This is aimed at equipping fashion enthusiasts and entrepreneurs with skills needed to excel in the fashion industry. This administration wants to make Aba the major hub for tailoring works in Africa.”
The Commissioner also hinted that President Ahmed Tinubu would be coming to flag off the multi-billion Abia Medical City at Owerrinta; and inaugurate the reconstructed Port Harcourt Road Aba, on May 23.
He explained that the aim was to end the current medical tourism abroad and make Abia a referral centre for medical treatments.
The Commissioner said that Governor Alex Otti had directed that additional solar panels be installed on the Port Harcourt Road Aba ahead of the President’s visit.
He said the reconstruction of the strategic road had brought a huge relief to traders and economic activities in Aba.
Kanu further hinted that the State Government would be launching its Wide Area Network Internet Access and Managed Network Services, Phase 1, on Friday, 9th May 2025.
He said that the Internet Access and Wide Area Network had been fully installed at the Nnamdi Azikiwe Secretariat and at the other two Secretariat complexes.
The Commissioner explained that the internet installation would enhance both the efficiency and effectiveness of civil servants.
Meanwhile, the Commissioner for Women Affairs, Mrs Maureen Ijeoma Aghukwa, while explaining further on the women livelihood collection sites, said that the state had paid its counterpart funds for the project which was assisted by World Bank.
She said that the project was on-going but that the completed sites had been handed over to the women to operate.
“What we have been doing in the past few months is to hand over these completed sites to the women so that they can start producing things to be marketed,” Aghukwa added.
