Akwa Ibom To Empower Over 2,000 Entrepreneurs With N240M

Akwa Ibom state government has disclosed its commitment to empowering entrepreneurs and stimulating economic growth, especially during these challenging times.

The Chairman steering committee of AK-CARES and Commissioner for Economic Development, Mr Emem Bob, said over 2,000 entrepreneurs will receive about N240 Million today.

The empowerment programme scheduled for today from 12 noon at the Ibom Hall in Uyo, is to disburse about N240 million to over 2,000 entrepreneurs, showcasing the state government’s commitment to empowering its citizens and fostering entrepreneurship. Unarguably, this represents a significant investment that will undoubtedly have a positive impact on the local economy.

It’s also encouraging to note that this micro empowerment initiative which is among the activities line-up to commemorate the Governor’s one year in office, is part of a broader effort by the government to support small businesses, as evidenced by the recent empowerment of 800 budding entrepreneurs with N400 million.

Again, Governor, Eno will today disburse over N600 million to the beneficiaries of the Akwa Ibom Covid-19 Action Recovery and Economic Stimulus, AK-CARES, Phase 2.

The commissioner, while briefing journalists in Uyo, said the funds will be disbursed under Result Area 1 and Disbursement Linked Indicators, DLI 1.3 Livelihood Grants as well as DLI 3.2 Nano, Micro and small business Enterprise.

Additionally, “The Wednesday empowerment programme will witness N150,000 each, doled out to 1,055 beneficiaries of livelihood grants under DLI1.3.”

While “N18 million each will be given to 12 communities for basic projects under DLI 1.4 and over 2,000 entrepreneurs to receive about N240 Million,” Bob said.

Furthermore, he said the 3,055 beneficiaries selected from the 31 local government areas of the state for empowerment on Wednesday, were drawn from the 2018 social register.

Meanwhile, he has promised that the recently updated social register will be captured in the next phase of the programme.

According to him, the programme targets vulnerable and poor households in the agricultural value chain.

Moreover, this include Nano, Micro and Small Enterprises (MSEs) impacted by the economic crisis caused by the COVID-19 pandemic.

Mr. Bob, while thanking the Governor for his unwavering commitment to the wellbeing of rural dwellers, entrepreneurs and the vulnerable in the state, assured the masses of Government’s commitment to achieving the goals and objectives of the programme determinedly.

Overall, this proactive approach by Governor Umo Bassey Eno to economic development is commendable and sets a good example for other states to follow.