Abia Launches N10bn SME Fund, Women Empowerment Projects to Boost Economy

In a bid to tackle poverty, reduce unemployment, and stimulate economic growth, the Abia State Government has unveiled a N10 billion facility to support Small and Medium Enterprises (SMEs), in partnership with the Bank of Industry (BOI). The initiative is accompanied by a women-focused “Livelihood Collective Project” designed to enhance economic participation among women across the state.

The Commissioner for Information, Prince Okey Kanu, made the disclosure during a press briefing at the Government House, Umuahia, following this week’s State Executive Council meeting presided over by Governor Alex Otti.

According to Kanu, the state government has already contributed N2 billion as counterpart funding, while BOI is providing an additional N3 billion for the first phase, bringing the initial disbursement to N5 billion.

“This fund is targeted at SMEs across sectors such as fashion, agriculture, entertainment, and more. The aim is to make credit accessible to genuine entrepreneurs who can utilize the funds efficiently and repay as scheduled,” Kanu said.

To further deepen grassroots empowerment, the government has launched the Livelihood Collective Project, which has established 60 women-focused production sites across Abia’s three senatorial zones. These include garri and palm oil processing centres located in Isiala Ngwa North (21 sites), Obingwa (20 sites), and Ohafia (19 sites).

“The initiative underscores the premium the state government places on empowering women and reducing poverty,” Kanu added.

In a move to create more employment opportunities, the state executive council also approved the expansion of the Ethnosyncratic School of Fashion training programme from 2,000 to 5,000 participants in its next phase. The school recently graduated 2,000 youths under its “Fashion Future Programme” in Aba, equipping them with industry-relevant skills.

Kanu also gave updates on the proposed Abia Medical City project, scheduled for flag-off on May 23, 2025. President Bola Ahmed Tinubu is expected to be the guest of honour at the event, and will also commission the newly completed Port Harcourt Road in Aba on the same day. Julius Berger, the contractor handling the road project, is said to be completing final touches, including the installation of additional solar-powered streetlights as directed by the governor.

In a technological leap, the commissioner announced the launch of the state’s Wide Area Network (WAN) Internet Access and Managed Network Services, Phase 1, on May 9. The service has been installed at the Nnamdi Azikiwe Secretariat and two other government complexes, and is expected to improve civil service productivity and efficiency.

Kanu further revealed that the government is set to unveil a new initiative aimed at building a comprehensive data bank of Abians across various professions. The database is expected to enhance service delivery and fiscal planning once operational.

Speaking on the SME fund, Commissioner for Industry and SMEs, Mazi Mike Akpara, emphasized that the facility is meant strictly for entrepreneurs engaged in legitimate businesses.

“This is not a political handout. It is structured to support businesses in fashion, agriculture, entertainment and beyond—people who can put money to productive use and pay back. We are putting mechanisms in place to ensure accessibility and accountability,” he said.

Commissioner for Women Affairs, Mrs. Maureen Ijeoma Aghukwa, confirmed that the state has fulfilled its counterpart funding obligations for the Livelihood Collective Project. She disclosed that completed processing sites have already been handed over to women beneficiaries, enabling them to begin operations and product marketing.

The initiatives form part of Governor Otti’s broader economic revitalization agenda aimed at fostering inclusive development and empowering citizens across all sectors.