Enugu Govt. sets aside N3.4bn for SMEs

Gov. Ifeanyi Ugwuanyi of Enugu State says his administration has set aside N3.4 billion for the establishment of Small and Medium Enterprises (SMEs) across the state.

Ugwuanyi said this on Friday in Enugu during the opening ceremony of the 31st Enugu International Trade Fair.

The governor said that the SMEs would be established in each of the 17 Local Government Areas (LGAs) of the state.

He said that the programme was part of  state’s 2020 budget, adding that each LGA would be allocated N200 million to set up an SME in its area of comparative advantage.

Ugwuanyi said that his administration would continue to provide the right environment for businesses to thrive in the state.

He said that government had positioned the state economy in the right direction by setting up a non-oil export desk in line with its diversification agenda.

“Our expectation is that the trade fair will continue to provide the right environment for investments flow and exchange of ideas,” Ugwuanyi said.

Earlier, President, Enugu Chamber of Commerce, Industries, Mines and Agriculture (ECCIMA), Mr Emeka Nwandu, said that it had become necessary to encourage indigenous investors in the state.

Nwandu said that no foreign investor would invest in the country without elements of risk sharing with local investors.

He said that encouraging local investors would also mitigate the perception of high risk environment that had been tagged on Nigerian environment.

“It is of essence that policies of government in this direction be made to work by using the chambers of commerce as buffer for its members that are genuinely prepared to develop their business operations,” he said.

Nwandu said that the chamber had for 31 years, appealed to the Federal Government to award direct contracts to complete the development of the trade fair complex as it did in Lagos and Kaduna states. (NAN)