100 Days: Fubara to Create N4b Enterprise Fund for MSMEs

Blessing Ibunge in Port Harcourt

Rivers State governor, Siminalayi Fubara, has disclosed that the state government has concluded plan to create a N4 billion enterprise fund for Micro, Small and Medium Enterprises (MSMEs).

Fubara, who stated that the project is in partnership with Bank of Industry(BOI), said it  is an intervention to enhance job create and refuse puberty rate in the state.

The Rivers State governor made the disclosure yesterday in Port Harcourt, during a broadcast to mark his 100 days in office.

Fubara said the state government was  also planning a Youth Entrepreneurship Development Trust Fund, to help create an enterprise culture and stimulate sustainable interest in entrepreneurial activities among the youths to advance self-employment and job creation.

He said: “To stimulate economic growth, enhance job creation, and reduce poverty we have concluded plans to create N4 billion Enterprise Fund in partnership with the BOI to facilitate the development of micro, small, and medium enterprises  in the State.

“With this Fund, owners and intending MSME entrepreneurs will have ready access to credit to fund or start their enterprises at single-digit interest rates with a maximum of a five-year repayment period.

“We have concluded plans to establish the State’s Investment Promotion Agency to advance local and foreign investments and the industrialization of the State.

“There is nothing more compelling to our government than to continue to focus on protecting our people, growing our economy to provide a high standard of living, investing in human capital development to uplift the youths, and building our infrastructure to attract investments and create jobs.”

Speaking on other projects, Fubara said as part of activities marking his 100 days, he would inaugurate  21 road projects inherited from the immediate past administration across the state.

He said:”Since we took over, the wheels of progress have never stopped turning in our state. After 100 days, we have funded, completed, and delivered 21 road projects the many we inherited from the previous administration, and added approximately 68 kilometres to the State’s Road network.”

On education, the governor explained that the government has “improve the quality of basic education in the last 100 days, completed the acquisition of over a million copies of relevant educational resource materials, including basic textbooks, dictionaries, and encyclopedias, to be distributed to all primary and secondary schools across the State to enrich their libraries and improve the standards of teaching and learning experience in our school system.

“We have within this timeline, completed the reconstruction and furnishing of six secondary schools with 124 classrooms, modern furniture, science laboratories, ICT, library, administrative block, assembly halls, dormitories and staff quarters spread across six local government areas of the State.”

“Under the Ministry of Special Projects, we have delivered the 10,000-seating capacity convocation arena for the University of Port Harcourt.

This is one-of-a-kind physical edifice that will provide academic and social services to the University community and the public, which aligns with our commitment to support all federal institutions in the State as much as we can to enable them to deliver effective and efficient services to our people.”

On flood intervention, Fubara said the state government has set up an inter-governmental flood management committee with the responsibility to respond proactively to the looming flooding that may affect the inhabitants of the lowlands and flood plains of the State as predicted by the National Emergency Management Agency.

He added: “With the launching of the flood mitigation road map, I can assure all residents that we are on red alert to respond to any imminent flood challenge in the State and provide safety and relief to those who will be affected.”