The Central Bank of Nigeria (CBN) will collaborate with Abia State Government to boost the growth of Micro, Small and Medium Enterprises (MSMEs) in Abia.
A representative of the apex bank, Mr Osha Elijah, stated on Tuesday in Umuahia at the opening ceremony of a retreat organised by Abia State Technical Board for MSMEs Development Scheme for upcoming entrepreneurs.
According to him, “CBN is ready to synergise with Abia Government in providing avenues for upcoming entrepreneurs to easily access funds to either set up or expand their various enterprises.
“CBN has shifted a little from the traditional method of promoting economic development by coming up with strategic means.
“This is through promoting inclusive growth and sustainable development of sectors in the economy, different industries and firms, then narrowing down to micro, small and medium entrepreneurs.”
He noted that the CBN is focused on enhancing capacity utilisation, increasing output of goods and services, boosting job creation and increasing foreign exchange earnings.
Elijah urged the participants to take advantage of the state government’s MSMEs programmes, describing them (MSMEs) as the engine of growth in any economy.
Abia State Governor, Okezie Ikpeazu said that the only way to succeed in the current economic situation was through maximising the trade and commerce sector.
The governor urged the people of Abia to help grow small scale businesses by patronising locally produced goods, to boost the confidence of local manufacturers and improve internally generated revenue.
He thanked the CBN for its efforts and support toward assisting the state government to achieve its MSMEs goals.
Describing the MSMEs as an important segment on which the world economy depends, the Chairman of the Board, Chief Theo Nkire, noted that the partnership would go a long way in enhancing local productions and boost commercial activities in the state
Nkire commended the state government for its zeal toward the growth of MSMEs and expressed the hope that Abia government would create a ministry to handle their issues.
Participants expressed optimism that the Abia Government would empower them with funds to expand their businesses.
