It was a day of fulfillment and promise keeping in Akwa Ibom state as the state governor pastor Umo Eno presented N500,000 cheques each to 800 entrepreneurs amounting to over N400b in a move to boost business development in the state.
Coming from an entrepreneurship background with sound management skills cutting across oil and gas and tourism sectors, pastor Umo Eno during electioneering campaigns had promised the Akwa Ibom business community that he would certainly encourage them to do their businesses without the stress of raising capital.

Armed with his enthusiastic manner, Eno established Ibom Led as an incubator to train young business owners on the ropes of doing business.

The governor also prepared the young entrepreneurs by giving the Bank of Industry (BOI) the opportunity to establish a new branch in Uyo with an equity contribution of N2b to keep their system buoyant for credit facilities to other investors.

However, in two batches, 800 young business owners were churned out as ambassadors of the government in the A-R-I-S-E agenda to put the state on a better pedestal for small-scale entrepreneurs as a pivot micro index for economic development.

The Special Assistant to the Governor on Research and Documentation Dr Essien Ndueso during the graduation of the young entrepreneurs charged them to translate skills and knowledge acquired during their three months of training into their businesses for the success of the vision of the present administration in the state.

The governor had assembled 470 business owners across 31 local government areas in the state for three months of intensive training on various rudiments of business as a means to kick-start entrepreneurship development in the state.

According to Ndueso, the participants received cash of N500,000 business grants each to boost their businesses.

He said such a gesture of the governor would reduce the burden of unemployment and promote entrepreneurship.

One of the participants and Chief Executive Officer of Phenom Edotech consulting /Blueprint Africa Bason Umoh said courses in the three-month training include: Business Development, Business Etiquette, Legal and Regulatory compliance in business dealings as well as Networking and Collaboration.

Others were Digital Tools, Personal Finance Planning, Sales and Marketing Strategies, Access to business funding, Pitching and presentation skills.

” With N500,000 business grants, some of us who had business already on the ground will add more goals to our businesses.

” We would also have access to Bank of Industry loans as Governor Umo Eno has given N2b for the bank to take off in the state.


” I have learnt more about uninformed business decisions that made me lose money in millions in the past.


” I have learned more about record keeping in business.”

Another participant Emmanuel Urua the Managing Director of Shawarma/Chow De Restaurant Mr Emmanuel Urua said facilities and Resource Persons were drawn from the Small and Medium Entreprises Development Agency of Nigeria ( SMEDAN) Bank of Industry and successful business owners among others.

” We were taught how to sell business deals and collaborate with others. We got advice from the Bank of Industry. They assured us that their loan will be a single-digit rate less than what is obtainable in commercial banks while the tenor period will be 4 years”.

Two other participants Helen Bassey and Grace Joshua dealing with Confectioneries/ Catering Services and Stitches/Wears appreciated Governor Eno for the business training and the cash of N500,000 adding that the knowledge acquired was equivalent to Lagos Business School where people pay in millions to attend.

” We are grateful to Governor Umo Eno for the 3 months training which ends today. The knowledge and skills acquired here are equivalent to Lagos Business School. We are grateful. God bless our governor” they said.

Be that as it may, some observers believe that the gesture of Governor Umo has consolidated the industrialization policy of the former administration of Governor Udom Emmanuel and built a generation of businessmen who will contribute to the state’s micro economy and reduce the burden of unemployment in the state.

A former councillor and member of the OrukAnam Transition Committee said Hon Ekaraikpong Udofia applauded the governor for raising the spirit of entrepreneurship in the state.

He said Governor Eno had added value and promoted those who are helping themselves and also reducing unemployment.

” If the seed money of N500,000 given by the governor to young entrepreneurs will be properly managed, the state will produce multi-millionaires in the coming years.

” The governor, having been an entrepreneur before coming into governance had employed over 2000 youths in his private company and decided to transfer entrepreneurship in his administration. ”

“This will certainly help the state to arrive at the peak of her economic growth and general prosperity,”he said.

https://thetrumpet.ng/akwa-ibom-how-gov-eno-doled-out-n-5m-to/

This is business worthy grant.

Not that pittance that the FG was awarding to applicants.

That's N400m OP.

Throwback:
This is business worthy grant.

Not that pittance that the FG was awarding to applicants.

applicant from all over west African hausa communities. Lol.

At least 500k is reasonable. I like that Akwa Ibom State is empowering its people with 500k. Imagine a whole FG giving businesses 50k. What can that amount do for a businessman after they have destroyed our economy? If I dey see that minister wey wan give businesses 50k, E dey hungry me to just slap am!