BY Florence Kanu, Calabar .
The Minister of state for industry, Senator John Owan-Enoh has unveiled the MSME’S Intervention support entrepreneurs and artisans programme in Cross River state.
The scheme is a Five Hundred Naira Million Intervention programme which was delivered at the Ernest Etim Bassey press centre by the Minister.,
The fund which is aimed at Empowering about one thousand beneficiaries in its. first phase seeks to create Jobs, Economic growth for the young people and also build a sustainable livelihood for Cross Riverians.
Senator Owah-Enoh pointed out that the programme has a brain wave driven by Sincere commitment and responsibility to the society and public, and believe in delivering it, not organising it.
The minister disclosed that after visitations to some free trade zones in lagos and Calabar, he will leave with the DG of NDDC to Akamkpa to the university of Education and Entrepreneurship where there is going to be a ground breaking of the Automative training centre in the university.
According to him while in Lagos he inaugurated the automotive training centre at the Lagos university of science and Technology and deemed it fit to have a centre in cross River State, adding that there Is also CNG station at the University of Calabar.
The Senator revealed that the president of the Calabar chamber of commerce was the event because of the importance of the programme to his chambers and the DG of MEDA all a testament of how important Cross River is able to build a private Sector of Entrepreneurs and appreciated the fact that not all are expected to wait for government Employment.
He emphasized that the world over, Industries and manufacturing remains the greatest employment of labour.
The minister noted that at the beginning of the Ahmed Bola Tinubu administration he had carried out some level of intervention-programmes of about 200 Billion Naira, 50 billion for grants and 75 billion was for MSME’S while 75 billion was for manufacturing.
The Minister stated that in 2025 budget there was a 500 Billion Naira earmarked for the bank of industries for the continuation to assist it maintain it’s Interest rate.
He further said that although the challenges remain, little has to be done for a change, and expressed the hope that the little contribution well also support the Cross River State Governor Prince Bassey Edet Otu who recently carried out some Intervention for retirees, said he is doing this to also Support the work of MEDA.
Senator Enoh revealed that Prince Otu has made available a one billion Naira Counterpart to B.O.I a programme for either private or government in which the BO.1 is able to match the Sum to benefit the people.
The minister who was quoted as saying that “what is being unveil is his private Contribution to the Ecosystem, is a grand and not a loan but also a grant that is going to be stringent and not going to be dash money for the purposes of politics is going to be money that is intended to grow our Economy and to get people do better!!
A renowned Journalist and activist Agba Jalingo who also remarked that it was not a loan but a grant of Five Hundred Million is for grants, and the beneficiaries are in two categories, those in formal sector and the informal sector whose emphasis was on welders, Akara fryers in the village the vulcanizes are accommodated in this sector.
For the formal sector people are expected to apply through the website https/hmindustry·ng. while those in the Informal sector physical, forms will be printed and made available in the 18 Local Government Councils of the State, filled while data’s will be collated.
Agba Jalingo has been appointed to represent the Implementation committee for transparency and prudent management.
He added that the formal business owners will get between 100-500 hundred thousand Naira each while one hundred and fifty thousand Naira will be available for those on informal sector.
The programme will run in four batches for each of the batches there will be 150, formal beneficiaries and 325 beneficiaries from the informal sector..
