…as another industry springs up at Itam Industrial Estate, December
…govt to establish enterprise centres across 31 LGA’s
In order to complement Governor Udom Emmanuel’s industrialization effort in attracting large scale industries to the state, including the Kings Flour Mill, Jubilee Syringe, Metering Factory, Rice Mill, Coconut Refinery Project, the Plywood Industry and other ongoing industrialization projects in the state, the State government through the Ministry of Trade and Investment has unveiled plans aimed at boosting Small and Medium Enterprise, SME sector in the state.
Already, the government says its target is to produce 30,000 viable Akwa Ibom Entrepreneurs by the year 2023. To achieve this, the government is targeting to produce at least 3000 entrepreneurs every quarter of the year, making it 9000 SME’s per year, beginning from 2020 through 2021, 2022 till the target of 30,000 SME’s is achieved by 2023.
Commissioner for Trade and Investment, Prince Ukpong Akpabio dropped the hint, Monday when he defended the 2020 budget estimate of his ministry before the House of Assembly Committee on Finance and Appropriation. He said the focus of his ministry as captured in the 2020 budget is the development of SME’s.
Prince Ukpong, accompanied by the Permanent Secretary in the Ministry, Mr. Oliver Udoukpo, and other management staff, also informed the lawmakers that his ministry earlier in the morning took delivery of 3 containers of dried bamboo tissue production machines for installation at Itam Industrial Estate. He said 2 more containers of the machines were being expected to make it 5. Akpabio explained that bamboo tissue production line which will be producing tissue papers and other products would commence production in December this year.
“The focus of the ministry in 2020 would be in the development of viable Small and Medium Enterprise Sector, SME’s. With the recent commissioning of Kings Flour Mill, and other large scale investments, its also important we focus on the development of 30,000 entrepreneurs by 2023.
“The State Executive Council has just approved ‘Ibom 3000 SME’s project targeted for first quarter of 2020″. By 2020 we should be able to target 9000 well trained SME’s. We intend to equip these entrepreneurs on business branding and insurance. We also intend to establish enterprise centres in the 31 Local Government Areas of the state. As you know, SME’s are the bedrock of any economy”.
“We will start planting coconut in every primary school in the state because the coconut refinery the state is building in Mkpat Enin will require 3000 nuts in a day so that this will help supply the coconut refinery with adequate nuts for refining”.
The ministry’s budget for 2020 is N6Billion, while N1.53 Billion was budgeted for 2019 out of which about N145 Million or 9.47% was drawn. The Commissioner further explained that the revenue target of the ministry for 2019 was N77.6 Million, however N8.7 Million was realised as revenue during the year under review. Again, same N77.6 Million has again been projected by the ministry as revenue in 2020.
Reacting, the Chairman of the Finance and Appropriation Committee, Mr. Uduak Odudoh hailed the Commissioner for the work he is doing in helping the Governor to translate his industrialization vision to reality, and assured of the support of the House of Assembly.