This initiative is designed to support Micro, Small, and Medium Enterprises (MSMEs) in Akwa Ibom by providing critical financial assistance to help them expand and thrive
Programme Objectives
The key goals include:
Job Creation – Generate 5,000+ new employment opportunities across sectors.
Facilitate Business Growth – Provide capital for scaling operations, technology adoption, and market expansion.
Drive Economic Growth – Stimulate economic activity and bolster the state’s GDP.
Boost Agricultural Productivity – Support farmers and agribusinesses to enhance yields and food security.
Reduce Production Costs – Offer affordable financing to improve efficiency and competitiveness.
Enhance Household Welfare – Strengthen household financial stability with positive local economic impacts.
Eligibility Criteria
To apply, you must meet the following:
Own a Micro, Small, or Medium Enterprise.
Business must be based (headquartered) in Akwa Ibom State.
Your business must be registered with the Corporate Affairs Commission (CAC).
Possess a valid means of identification (e.g., national ID, driver’s license, voter’s card, international passport
Loan Application Process
The process is streamlined into four clear steps:
Submit Application Online – Fill out the online form with accurate business details.
Document Verification – Upload required documents with clarity and legibility.
Capacity Training with Ibom-LED – Training for improving financial and business management skills.
Approval & Disbursement by BOI – BOI conducts due diligence and, once approved, disburses funds directly.
Frequently Asked Questions (FAQs)
Loan Amounts:
Micro Enterprises: Up to ₦10 million
Small & Medium Enterprises: ₦10 million – ₦100 million
Interest Rates:
Term Loan: 7.5% per annum
Working Capital Loan: 8.5% per annum
Approval Timeline:
Typically 2–4 weeks, depending on completeness of documents.
Loan Tenure:
Term Loan: 3 to 5 years
Working Capital Facility: Up to 3 years
CAC Requirement:
You must be registered with the CAC to apply. If not yet registered, it’s advised to complete that process first.
Contact & Support
For help or inquiries:
Email: [email protected]
Phone: +234 708 967 9994
Office Address:
AKICORP Office, Investment House,
143 Olusegun Obasanjo Way, Uyo, Akwa Ibom State
Click HERE to Apply
