Governor Udom Emmanuel has launched a revolving credit facility that allows 1,000 persons at a time to draw from the funds through a micro scale and medium enterprises scheme.
The scheme, which is to cater to the needs of traders, is also gender sensitive, with a 65 to 35 disbursement percentage for women and men, according to the governor who believes that the facility will boost the drive of the vision of wealth creation in the state.
Speaking at Ibom Hall, venue of the presentation, Governor Emmanuel said that the loan is interest-free, and is meant to boost working capital of the traders and enable them excel in their businesses.
He announced plans to organise training workshop on entrepreneurial development and financial management, to equip the traders with requisite skills that would facilitate their business undertakings.
The governor, who donated a Toyota Hiace bus to the traders association, charged the beneficiaries to be prudent in the management of the fund to enable other beneficiaries access the loan.
He also solicited their partnership with the government to create wealth and improve the living conditions of citizens.
Also speaking, the Commissioner for Finance, Mr. Akan Okon, stated that the loan is sequel to the Central Bank of Nigeria, CBN’s directive to state to empower young entrepreneurs, who are described as the engine room for economic growth.
The State President, Conference of Traders Association, Obong Christopher Usoro, lauded the governor for including them in his development agenda and providing them with capital for their businesses.
In a goodwill message, the president, Akwa Ibom Traders Network, Mr. Mosses Sambo, and his counterpart in the Market Women Association, Madam Magdalen Udom, said the governor has established a long lasting relationship with the traders and assured that the funds would be properly utilised.

READ ALSO  Clergy advises Nigerians to plan lives, avoid flamboyant lifestyles