The Akwa Ibom State government has expressed its commitment to boosting small scale businesses, disclosing that so far, N2 billion had been disbursed to 3,496 traders across 31 local government areas to encourage commercial activities in rural communities.
Commissioner for Trade and Investment, Capt. Iniobong Ekong, disclosed that N31 billion was earmarked in 2026 as empowerment for traders, youths, women, farmers, transport operators as well as owners of the Micro, Small and Medium Scale Enterprises (MSMEs) under the the Arise Agenda blueprint of the Pastor Umo Eno – led administration.
Speaking at the ongoing Ministerial Briefing at Akpan Isemin Hall, Government House, Uyo, the state capital, Ekong listed some of the achievements of the ministry to include business support, market infrastructure, investment promotion and industrial development.
The commissioner explained that the ministry aims at positioning the state as a leading destination for investment, trade, industrialization and development of micro businesses.
“The Ministry of Trade and Investment has the mandate to reposition the state as a leading investment destination and centre for trade, industrialization, and growth of small businesses in line with the developmental framework of the ARISE Agenda,” he stated.
He affirmed that the business grants disbursed were meant to support beneficiaries working capital, help them expand their businesses, restock their shops and meet customer demand.
He announced market infrastructure progress at Ikot Ekpene modern International market project designed to accommodate 1,200 shops across 30 market blocks.
Ekong added that facilities at the International market include wholesale and distribution warehouses, administrative building, dedicated power station, borehole water supply, cooling facility, modern slaughterhouse, two restaurants and internal roads.
He said the project’s perimeter fence was 95 per cent complete, with installation of gates to be completed .
“The ministry is also planning industrial complexes for agricultural processing as part of efforts to attract investors and create more opportunities for local businesses,” he said.
According to him, the ministry was working with the Nigerian Export Promotion Council to promote non-oil exports and develop a framework to help local producers reach wider markets.
“The ministry is also monitoring locally produced commodities, including cocoa, palm oil, palm kernel, rubber and ginger, to check their quality and classification and track their movement.
“The exercise is expected to help check smuggling and reduce revenue losses,” he explained.
He added that the State Action on Business Enabling Reforms (SABER) programme, supported by the World Bank, was reviewing regulations, permits, fees and administrative procedures that affect businesses, with the aim of making it easier for them to operate and improving transparency.
“The ministry is providing technical, administrative and financial training, as well as consultancy services, to micro, small and medium-size enterprises
“It is also researching locally available raw materials and working with the Standards Organisation of Nigeria, the National Agency for Food and Drug Administration and Control and Corporate Affairs Commission to help businesses meet required standards,” Ekong added.