Akwa Ibom Cooperative Societies Get Seeds Grant From SMEDAN

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By; PATRICK TITUS, Uyo


A total of 16 cooperative societies in Akwa Ibom state have received N4,620 million as grant from the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to expand their capital base in business.
Each of the cooperatives received N288,750 cheque, together with certification of being trained on agricbusiness development empowerment at the closing ceremony of the Agribusiness Development and Empowerment Programme (ADEP) for Selected Cooperative Societies, Self-Help Group (SHC) Trade Association and Organisation, NGO and MBOs organised by SMEDAN.
Speaking during the disbursement of the grant on Saturday in Uyo, the Director General of SMEDAN, Dr Dikko Umar, said the programme was to foster emergence of new businesses among youth and women in the state.
Umar, who was represented by the South-South Zonal Coordinator of SMEDAN, Mr Egbuna Iloba, said the training was to ensure speedy and healthy competition among entrepreneurs which  would encourage diversification of the economy away from oil.
“The objectives for this training programme include, to encourage the target beneficiaries to embrace agribusiness development, as a viable business option.
“Strengthen entrepreneurship skills of potential/existing beneficiaries of agribusiness development schemes.
“Facilitate networking/exchanges amongst beneficiary farmers and their peers for value addition and inclusive value chain development, as well as encourage the diversification of the economy away from crude oil, using agriculture. 
“Consequently, as part of our engagement here today, the 16 agribusiness cooperatives from this intervention, at the two centres, in Eket and Uyo, will each receive cash grants of about N288, 750 each amounting to N4, 620, 000,” Umar said.
In her remarks, the Commissioner for Rural Development and Cooperatives, Mrs Enobong Mbobo, commended SMEDAN for their timely support to the Small Medium Enterprises (SMEs) in the state.
The Commissioner, represented by the Cooperative Officer in the Ministry, Mrs Iniobong Akpan, advised the beneficiary cooperatives to use the grant deligently in order to generate incomes.
“I must say that I am pleased with what Federal Government through SMEDAN has done today. This money being given today as grant will help you go alongway if you make proper use of it. Don’t divert the money meant for business to pleasure,” she said.
In her remarks, the Commissioner for Women Affairs and Social Welfare, Mrs Ini Adiakpan, warned the beneficiaries against mismanagement of the funds, adding that the grant should  be invested in an income spinning ventures. 

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