SMEDAN disburses N4,620,000 to 16 cooperatives in A’Ibom

Akpan Umoh, Uyo

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has disbursed N4,620,000 empowerment grant to 16 Cooperatives in Akwa Ibom State.

Each of the cooperatives received N288,750 cheques together with certificates of being trained on agribusiness development empowerment at the closing ceremony of the Agribusiness Development and Empowerment Programme (ADEP) for Selected Cooperative Societies, Self-Help Group (SHC) Trade Association and Organisation, NGO and MBOs organised by SMEDAN.

The Director-General of SMEDAN, Dr Dikko Umar, who said this during the disbursement of the grant on Saturday in Uyo, added that the programme was to foster the emergence of new businesses among youths and women in the state.

Represented by the South-South Zonal Coordinator of SMEDAN, Mr Egbuna Iloba, Umar stated that the training was to ensure speedy and healthy competition among entrepreneurs which would encourage diversification of the economy away from oil.

He said: “The objectives for this training programme include, to encourage the target beneficiaries to embrace agribusiness development, as a viable business option.

“Strengthen entrepreneurship skills of potential/existing beneficiaries of agribusiness development schemes.

“Facilitate networking/exchanges amongst beneficiary farmers and their peers for value addition and inclusive value chain development, as well as encourage the diversification of the economy away from crude oil, using agriculture. 

“Consequently, as part of our engagement here today, the 16 agribusiness cooperatives from this intervention, at the two centres, in Eket and Uyo, will each receive cash grants of about N288, 750 each amounting to N4,620,000.”

In her remarks, the Commissioner for Rural Development and Cooperatives, Mrs Enobong Mbobo, commended SMEDAN for their timely support to the Small Medium Enterprises (SMEs) in the state.

The Commissioner, represented by the Cooperative Officer in the Ministry, Mrs Iniobong Akpan, advised the beneficiary cooperatives to use the grant diligently to generate incomes.

“I must say that I am pleased with what Federal Government through SMEDAN has done today. This money is given today as a grant will help you go a long way if you make proper use of it. Don’t divert the money meant for business to pleasure,” she said.

In her remarks, the Commissioner for Women Affairs and Social Welfare, Mrs Ini Adiakpan, warned the beneficiaries against mismanagement of the funds, adding that the grant should be invested in income spinning ventures.