By Abdul-Kadir Abdullah
The Edo State Government through the Edo State Investment Promotion Office (ESIPO)-Ease of Doing Business Secretariat in collaboration with the Bank of Industry (BOI), Nigerian Association of Small Scale Industrialists (NASSI), and Edo State Skills Development Agency (Edojobs) recently organized a sensitization program aimed at empowering Micro, Small, and Medium Enterprises (MSMEs) in the state.
The event, held on Thursday, December 12, 2024, focused on the Federal Government's N75 billion MSME Intervention Fund.
The initiative is part of ESIPO's ongoing efforts to create a conducive business environment and attract investments to the state. By partnering with BOI, NASSI , edojobs, Ministry of Business Trade and Cooperatives ESIPO aims to provide MSMEs with access to the much-needed financial support and technical assistance to scale their businesses.
During the event, key stakeholders, including representatives from NASSI, NASME, Edojobs, and the Edo State Ministry of Business, Trade and Cooperatives, gathered to discuss the benefits of the fund and the application process.
The session was designed to provide MSMEs with the necessary information and guidance to leverage the opportunity.
Mr. Odigie Amen, Managing Director of ESIPO, emphasized the state government's commitment to supporting MSMEs and creating a thriving business ecosystem. He highlighted the importance of the N75 billion fund in providing the capital needed for business growth and job creation.
According to him,"In ESIPO, we are committed to working collaboratively with our partners like the BOI to create an enabling environment for businesses to thrive. We recognise the critical role of MSMEs in our state's economic development and actively working to facilitate their growth. This particular collaboration with BOI, NASSI and NASME is a testament to our dedication to support MSMEs "
Engr. Christopher Omondiagbe, State Manager of BOI, outlined the details of the fund, including the interest rate, eligibility criteria, and application process. He also emphasized the importance of technical assistance and capacity building programmes in supporting MSMEs.
With the sensitization program, ESIPO and BOI have taken a significant step towards empowering Edo State's MSMEs and driving economic growth. The collaboration between the two organizations underscores their shared commitment to fostering a vibrant entrepreneurial ecosystem in the state.
