-
Akwa Ibom has disbursed ₦2 billion in business grants to 3,496 beneficiaries across the state’s 31 local government areas.
-
The 2026 budget provides ₦31 billion for an empowerment programme targeting traders, youths, women, farmers, transport operators and MSMEs.
-
Government plans an investment forum in the first quarter of 2027 to attract investors and expand business opportunities.
-
Ikot Ekpene modern market, designed to accommodate 1,200 shops, is nearing completion of its perimeter fencing.
October 29, (THEWILL) – Akwa Ibom State Government has disbursed ₦2 billion in business grants to 3,496 traders and entrepreneurs across its 31 local government areas, while earmarking ₦31 billion in the 2026 budget for a broader empowerment programme targeting small businesses and other economic groups.
The Commissioner for Trade and Investment, Captain Iniobong Ekong (rtd.), disclosed this during a ministerial briefing in Uyo, where he outlined the state government’s efforts to stimulate commercial activities, strengthen micro, small and medium-sized enterprises (MSMEs) and attract fresh investments.
Ekong said the grants were designed to provide beneficiaries with working capital to expand their businesses, restock their shops and meet growing customer demand.
The ₦31 billion empowerment provision covers traders, youths, women, farmers, transport operators and MSMEs as Governor Umo Eno’s administration pursues its ARISE Agenda.
“The Ministry of Trade and Investment has the ministerial mandate to reposition Akwa Ibom State as a leading investment destination and a hub for trade, industrialisation, and MSME growth”, the commissioner said.
He added that the state was developing strategies to improve the business environment, support local entrepreneurs and attract investors into sectors with significant potential for economic growth.
As part of its investment promotion drive, the ministry plans to convene an investment forum in the first quarter of 2027 to bring together investors, business operators and other stakeholders to explore opportunities in the state.
The government is also planning an investment platform, business roundtables, a comprehensive investment centre and a non-oil export summit to promote locally produced goods and connect businesses with wider markets.
On market infrastructure, Ekong said the Ikot Ekpene modern market project, designed to accommodate 1,200 shops across 30 market blocks, was progressing, with its perimeter fencing 95 per cent complete. Installation of the gates remains outstanding.
The project includes wholesale and distribution warehouses, an administrative building, a dedicated power station, borehole water supply, a cooling facility, a modern slaughterhouse, two restaurants and internal roads.
The ministry is also planning industrial complexes for agricultural processing to encourage value addition, attract investment and create more economic opportunities for local producers.
Ekong said the state was collaborating with the Nigerian Export Promotion Council to promote non-oil exports and develop mechanisms to help local businesses access broader domestic and international markets.
He added that the ministry was monitoring commodities such as cocoa, palm oil, palm kernel, rubber and ginger to verify their quality and classification and track their movement, an exercise expected to curb smuggling and reduce revenue losses.
READ ALSO:
The commissioner also highlighted the State Action on Business Enabling Reforms (SABER) programme, supported by the World Bank, which is reviewing regulations, permits, fees and administrative procedures that affect businesses.
The initiative seeks to improve transparency, reduce administrative bottlenecks and make it easier for entrepreneurs to establish and operate businesses in the state.
According to Ekong, the ministry also provides technical, administrative and financial training, alongside consultancy services, to MSMEs. It works with the Standards Organisation of Nigeria, the National Agency for Food and Drug Administration and Control, and the Corporate Affairs Commission to help businesses comply with regulatory requirements.
Meanwhile, the Attorney-General and Commissioner for Justice, Uko Udom, SAN, said his ministry was responsible for providing legal services to government ministries and extra-ministerial departments.
“The Ministry of Justice has the core ministerial responsibility of providing legal services to all government ministries and extra-ministerial departments”, Udom said.
He explained that the ministry provides legal advice, drafts and vets agreements, memoranda of understanding, bills, subsidiary legislation and other documents required for government transactions.
Its responsibilities also include prosecuting and defending cases in courts across the country, administering estates, resolving disputes and working to prevent gender-based violence.
