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HomeBusinessEbonyi Govt Approves Fund for Business Development – Commissioner

Ebonyi Govt Approves Fund for Business Development – Commissioner

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Dr Stephen Odoh, Ebonyi Commissioner for Business Development, says the state government has approved funds to accelerate economic growth and deepen business development in the state.
Odoh in a statement issued on Tuesday in Abakaliki, said the fund was part of  Governor Dave Umahi led administration’s resolve to stimulate the growth of economic and business activities across the state.
He said the fund would be channelled into the creation of new businesses, stimulate growth of existing ones and enhance more business opportunities.
He said: “His excellency has graciously approved the disbursement of funds to assist the establishment of new businesses for start-ups and expansion of existing ones for intending entrepreneurs and the entire business community in the state.
”This is part of the governor’s resolve to grow the state economy, stimulate the growth of economic and business activities in the state for job creation and preparing the state on the path of global economic dominance. To this effect, the Ebonyi Micro, Small and Medium, Enterprises (SMEs) funds will be disbursed and channelled towards development of the key economic areas. These areas include: funds for the industrial clusters situated in Ebonyi North, Ebonyi South and Ebonyi Central senatorial zones to be disbursed through the Ministry of Human Capital Development and Monitoring. Funds for hatchery development to be disbursed through the office of the State Coordinator, International Fund for Agricultural Development (IFAD). Funds for importation of goods to be disbursed through the Ministry of Market Development and Management. Funds for alternative livestock business to be disbursed through the Ministry of Agriculture and Natural Resources”.
He added that government also approved funds to encourage processing-based businesses which would be disbursed through the Ministry of Commerce and Industry.
The commissioner said funds to stimulate production and manufacturing-based businesses were also approved and would be disbursed through the office of the Special Assistant (SA) to the governor on SMEs.
The commissioner advised interested individuals, intending entrepreneurs, SMEs, corporate bodies and the entire business community in Ebonyi to take advantage of the funds.
“We urge interested individuals, corporate bodies and intending entrepreneurs to avail themselves the opportunity by visiting any of the aforementioned MDAs relevant to the highlighted sectors of interest for details and application”.

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