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Ibom-LED Empowers 800 Entrepreneurs with N500,000 Start-up Funds

Blessing Joseph by Blessing Joseph
May 15, 2024
in Business, News
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Ibom-LED Empowers 800 Entrepreneurs with N500,000 Start-up Funds
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Since assuming office as the Governor of Akwa Ibom State in May 2023, Pastor Umo Eno has demonstrated an unwavering commitment to supporting indigenous entrepreneurs, aiming to drive economic development in the state. Under his leadership, the Ibom Leadership and Entrepreneurial Centre (Ibom-LED) has emerged as a beacon of entrepreneurial revolution, igniting the spirit of entrepreneurship among the people of Akwa Ibom.

Governor Umo Eno’s vision for Akwa Ibom revolves around empowering the state’s youths with entrepreneurial skills, thereby reducing reliance on political patronage for livelihood. To actualize this vision, the Ibom-LED was established, repurposing the nearly abandoned E-Library built by the previous administration. Imo-abasi Jacob, Managing Director of AKICORP, was appointed as the Team Leader of Ibom-LED, tasked with training and equipping young entrepreneurs with the necessary knowledge and skills to modernize and expand their businesses.

Under the Ibom-LED initiative, comprehensive training programs such as the Entrepreneurship Accelerator Programme (EAP), Business Mastery Program (BMP), and Business Leadership and Entrepreneurship Program (BLEP) have been launched to support and nurture entrepreneurs. These programs cover various aspects of business management, including operations, communication, negotiation, marketing, leadership, and more.

Additionally, the Transforming Nigerian Youths Program (TNY) aims to equip young Nigerians with essential skills for personal and professional growth. The Ibom Ignite Business Grant Award Program (IIBGA) provides funding opportunities, while the Start-Up Accelerator & Incubation Programme (SAIP) supports early-stage startups through mentorship and resources.

To kickstart these initiatives, Governor Umo Eno donated N250 million for the training of the first batch of 400 participants, with plans to disburse business support grants of ₦500,000 to each trainee upon completion. The governor emphasizes the importance of self-reliance and determination for entrepreneurial success, urging beneficiaries to focus on building successful businesses rather than seeking political patronage.

The success of the Ibom-LED initiative was highlighted by the recent disbursement of N500,000 grants to 800 trainees, followed by branding of their business outlets across the state. Notably, one of the beneficiaries, Jones Okon Akpan, a person living with a disability, showcased remarkable entrepreneurial spirit by gifting the governor a pair of shoes made by him. Touched by his gesture, Governor Umo Eno doubled his grant and pledged support to lift 5,000 entrepreneurs like Jones to enviable heights in business leadership.

The Ibom-LED success story underscores the transformative impact of investing in entrepreneurship and skills development. Governor Umo Eno’s conscious policy direction towards supporting indigenous entrepreneurs reflects a commitment to fostering economic growth and creating opportunities for the youth in Akwa Ibom State. Through initiatives like Ibom-LED, the state is poised to unleash its full entrepreneurial potential and drive sustainable development for years to come.

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