About 5,000 small businesses in Akwa Ibom State have benefitted from the N50,000 grant from the federal government’s business support programme.
This was revealed during a special town hall and sensitisation session held in Uyo, the state capital.
The federal government has set aside N200 billion for grants and another N75 billion for loans to help small, registered businesses across Nigeria.
It’s a part of a larger push to strengthen these small businesses, generate jobs, and ultimately drive economic growth.
For these firms, the support means a chance to grow, to hire, and to make a bigger impact in their communities.
The program isn’t just about providing financial support; it’s about creating stability and improving household welfare across the country.
Representatives from the Bank of Industry explained how the intervention works and shared insights on how new beneficiaries can tap into these opportunities.
The Governor’s Aide on Entrepreneurship Development, emphasised the importance of building a solid foundation for small businesses in Akwa Ibom.
Many of the beneficiaries are thrilled, expressing gratitude for the support and the hope that more businesses will get a chance to be included in future rounds of the program.
The federal government says it’s committed to hitting targets of 75,000 new MSMEs, creating 75,000 direct jobs, and an impressive 150,000 indirect jobs.
With initiatives like this, small businesses in Akwa Ibom and beyond could be on a solid path to growth.
