More than 3,000 small business operators in Rivers State have so far benefitted from the ₦4 billion single-digit loan scheme jointly funded by the Bank of Industry (BoI) and the Rivers State Government, the Commissioner for Commerce and Industry, Warisenibo Joe Johnson, has said.
Johnson, who spoke when the Rivers State chapter of the Nigerian Association of Small and Medium Enterprises (NASME) paid him a courtesy visit in his office on Wednesday, said the intervention—managed through the Rivers State Microfinance Agency—forms a key component of Governor Siminalayi Fubara’s development agenda.
He said the governor’s 37-page blueprint prioritises the re-industrialisation of the Trans-Amadi Industrial Layout, once home to major firms such as Michelin, Rivers Vegetable Oil Company (RIVOC) and Crocodile Machetes, but which suffered decline due to years of economic downturn.
According to him, the administration is working to restore the area’s industrial vibrancy, stimulate business growth, create jobs for young people, expand opportunities in technology and skills acquisition, and boost the state’s internally generated revenue.
Earlier, Rivers NASME chairman, Elder Dogda Sakpege, described the association—founded in 1996—as a consistent advocate for the development and sustainability of small and medium-scale enterprises nationwide.
“We want to partner with your ministry to improve the fortunes of small businesses in Rivers State,” he said.
