Abia govt to empower, support growth of SME’s with N10bn fund
CHIGOZIE AMADI
The Abia State Government has made a strategic move to empower and support Small and Medium Enterprises (SMEs) in the state through the provision of a counterpart funding of 10 billion Naira fund with Bank of Industry.
The Commissioner for Information, Prince Okey Kanu disclosed this at Government House Umuahia while briefing journalists on the outcome of this week’s State Executive Council meeting presided over by Governor Alex Otti.
Prince Kanu explained that,”Abia state government has provided the matching funds in a 10 billion Naira Abia State Government – Bank of Industry fund for SME’s in the state.
“This fund is meant to be accessed by SME’s across various sectors.
The state government has paid up its counterpart funds of 2 billion Naira, and Bank of Industry will provide the outstanding 3 billion Naira, bringing it all together to a total sum of 5 billion Naira in the first phase,” Prince Kanu stated.
The Commissioner also 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, has built 60 sites across the 3 senatorial zones of the state, comprising both garri and oil palm processing sites.
He noted that the distribution is as follows: 21 sites at the Isiala Ngwa North LGA, 20 sites at the Obingwa LGA, and 19 sites at Ohafia LGA, respectively.
This move, according to the Commissioner, “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,”
Prince Okey Kanu further revealed that the State Executive Council , consistent with the Governor’s agenda to provide jobs for the teeming youth, has directed that the number for the next batch of trainees of the Ethnocentric School of Fashion be increased from 2,000 to 5,000.
He recalled that 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, held at Aba and aimed at equipping fashion enthusiasts and entrepreneurs, with skills, needed to excel in the fashion industry.
The information boss informed that plans are in top gear to ensure a successful flag-off ceremony of the Abia Medical City project coming up on the 23rd of May 2025, adding that , there was a tour of the location of the project over the weekend by all the relevant MDAs collaborating to organize the flag-off ceremony.
While informing that President Bola Almed Tinubu would be the guest of honour at the flag off ceremony, the Commissioner affirmed that, the contractor handling the Port Harcourt Road in Aba, Julius Berger is putting finishing touches to the construction of the road. He added that the Governor’s directive for additional solar lights to be installed on the whole stretch of that road is being implemented.
He also informed 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 have been fully installed at the Nnamdi Azikiwe Secretariat and at the other two Secretariat complexes.
He explained that the internet installation would enhance both the efficiency and effectiveness of civil servants.
“I wish to inform you that the state government will soon be unveiling an initiative that promises to strengthen the data bank of Abians in various fields of endeavor.
“The project when kick started will strengthen the connection between the state government and the people with a positive impact on the state’s finances. Details would be fully unveiled at a Press Conference soon,” Prince Kanu stated.
Contributing, the Commissioner for Industry and SMEs, Mazi Mike Akpara explained that the state government would make the funds available to SMEs.
“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 who are very eager to improve themselves. We are going to make it easier for people to get this money,” Akpara explained.
Also, the Commissioner for Women Affairs, Mrs. Maureen Ijeoma Aghukwa said that the state has paid it’s counterpart funds for the Livelihood Collective project and informed that the completed sites have been handed over to the women.
“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.
The Special Adviser to the Governor on Media and Publicity Mr Ferdinand Ekeoma and the State Director of Information, Lady Chika Orji-Nwoke were present at the briefing.
