The Edo State Investment Promotion Office (ESIPO) Ease of Doing Business Secretariat, in partnership with the Etsako East Local Government Council, Edojobs, NIRSAL Microfinance Bank, the Bank of Industry (BOI), and LAPO Microfinance Bank, has held an information session on access to credit for Micro, Small, and Medium Enterprises (MSMEs) in Agenebode.
Held at the Council Hall in Agenebode, the session aimed to empower local businesses by addressing their financial needs and providing guidance on accessing vital resources.
In his opening remarks, Abdul-Kadir Abdullah, Team Leader for Investment Promotion and Global Outreach at ESIPO, reiterated the government’s commitment to creating a conducive environment for businesses in Edo State. He emphasized the role of the One-Stop Investment Centre (ES-OSIC) in streamlining processes and reducing bureaucratic barriers for entrepreneurs.
“For us in ESIPO, the ease of doing business Secretariat, Edo North is a major industrial hub in Edo State, and we are ready to facilitate more investments into the region working with the LGAs,” Abdullah said.
Key Announcements
- Etsako East Local Government Plans:
High Chief Benedicta Attoh, Chairman of the Local Government Council, outlined ambitious plans to establish:- A trailer park in Okpella to support logistics and industrial activities.
- An ultra-modern fish market in Agenebode, leveraging the area’s strategic location and natural resources.
- Credit Access for MSMEs:
Representatives from BOI, NIRSAL Microfinance Bank, and LAPO Microfinance Bank presented various credit products and financing options designed to support MSMEs. They emphasized their institutions’ commitment to providing financial guidance and tailored solutions for local businesses.
Impact on Local Economy
The initiative is expected to drive significant economic growth in Agenebode and the wider Etsako East Local Government Area by:
- Enhancing Business Growth: Facilitating access to credit and reducing operational challenges.
- Attracting Investments: Supporting industrial hubs like Edo North through strategic partnerships and development initiatives.
- Boosting Employment: Empowering MSMEs to expand, thereby creating job opportunities within the community.
The collaboration between ESIPO, financial institutions, and local government demonstrates a proactive approach to boosting economic activity in Edo State. By equipping MSMEs with the financial tools and knowledge they need, the initiative marks a significant step toward sustainable development and a thriving business ecosystem in the region.
