Chime flags off N1billion intervention fund for SMEs

Governor Sullivan Chime of Enugu State has reiterated the determination of his administration to continue partnering with the Bank of Industry (BOI) towards the creation of wealth and jobs especially among
unemployed persons in the state. The Governor stated this in Enugu during the presentation of cheques to the 1st Batch of Micro, small and medium Enterprises loan beneficiaries under the one billion naira intervention fund set up by the Enugu state government in collaboration with the Bank of industry.
Governor Chime who was represented at the occasion by his Commissioner for Finance, Mr Godson Nnadi, stated that it had always been the desire of his administration to make Enugu State one of the four most industrialized States of Nigeria and the economic hub of the south East zone by the year2020. He added that government is determined to achieve this feat by developing and implementing initiatives and programmes that would harness and unleash the potentials of the private entrepreneurship in the state.
Chime explained that the BOI/ENSG MSME Fund Scheme was a matching fund program with an initial investment fund of N1billon where both the State Government and the Bank of Industry are required to make an equal contribution of N500 million each to assist Micro,Small and Medium Scale Enterprises (MSMEs) operations in various categories of business/industries.
He said, �Today, we are sending out a clear message to our people especially, the unemployed youths and others who are business inclined, that money is and should no longer be an issue or impediment when it comes to starting or expanding their own businesses. As a matter of fact, I have been assured and today's event serves as a confirmation, that access to this fund can be concluded by any aspiring or existing entrepreneur within 6-8 weeks�.The Governor congratulated the beneficiaries of the fund urging them to utilize the fund judiciously.
In her speech, the Managing Director. Bank of industry M/S Evelyn Oputa represented by Balarabe Hassan noted that the intervention fund will provide a platform for economic development of the state.He added that the Bank of Industry has forged a mutually beneficial relationship with Enugu State Government over the years, adding that the epoch making occasion signified the socio-economic development of the state.
She noted that Enugu State is richly endowed in agriculture and mineral which the state could convert for her their comparative advantage. She disclosed that the Bank of Industry has granted total loan facilities of #2.329 Billion in Enugu State to micro, small, medium and large Enterprises. According to the Chief Executive Officer of the Bank of Industry, the Bank�s partnership with Enugu State would not be limited to financial intervention alone but would include capacity, building, hand-holding and mentorship of the entrepreneurs with the objective of ensuring that their business grow and sustain In a welcome address by the State commissioner for commerce and Industry, Dr Jude Akubuilo noted that Governor Sullivan Chime has by the day�s event done his own part, adding that the SMES across the state should key into the programme, tap from the fund and boost their growth, expansion and job creation.
The Commissioner who also is the chairman of the State SME Board called on all the seventeen local government areas in the state to galvanize the SMES in their domain to take advantage of the fund.He commandedGovernor Sullivan Chime for his wonderful vision in establishing the fund, adding that history would judge him well. In his brief remarks the State commissioner for poverty Alleviation and Human Capital Development, Mr Godwin Ogenyi commended Governor Chime�s programmes to alleviate poverty in the state and recalled that his office through the support of Governor Chime on the programmers of cash transfer had recently empowered 900 beneficiaries in the state for the establishment of small scale industries.
In their goodwill messages the representatives of the Nigeria small Scale Industry (NASI) and the small and medium Enterprise Development Agency of Nigeria (SWEDAN) Mr. Ben Njoku and Victor Ugwu thanked the Bank of Industry, and the Enugu State government for their effort to empower the poor. They called on people to join their establishment for the creation of wealth in the state.