Rivers State Governor, Siminalayi Fubara, has announced the establishment of a N4 billion enterprise fund in partnership with the Bank of Industry (BOI). This fund is tailored to empower Micro, Small, and Medium Enterprises (MSMEs) in the state.
During a broadcast marking his first 100 days in office, Governor Fubara revealed the strategic collaboration with BOI, emphasizing its potential to substantially reduce unemployment rates and ignite entrepreneurial endeavors. The initiative aims to provide accessible credit to MSME entrepreneurs at remarkably low interest rates, with a repayment period of up to five years.
Additionally, the governor unveiled plans for a Youth Entrepreneurship Development Trust Fund, designed to nurture an enterprise-driven culture among young individuals. This move is anticipated to foster sustained interest in entrepreneurial activities, ultimately leading to increased self-employment and job opportunities for the state’s youth.
Fubara expressed his commitment to prioritizing economic growth, poverty reduction, and human capital development. In his words, “There is nothing more compelling to our government than to continue to focus on protecting our people, growing our economy to provide a high standard of living, investing in human capital development to uplift the youths, and building our infrastructure to attract investments and create jobs.”
As part of this 100-day milestone, Governor Fubara also announced the inauguration of 21 road projects inherited from the previous administration. These initiatives are poised to make significant strides in enhancing the state’s transportation network.
Furthermore, substantial progress has been made in the realm of education. The state government has invested in acquiring over a million educational resource materials, including textbooks, dictionaries, and encyclopedias, to enrich the libraries of primary and secondary schools. Additionally, six secondary schools have undergone comprehensive reconstruction, with the addition of modern facilities to elevate the learning experience.
Under the aegis of the Ministry of Special Projects, the University of Port Harcourt has witnessed the completion of an impressive 10,000-seat capacity convocation arena. This monumental facility is set to serve both the university community and the public, aligning with the government’s commitment to bolstering federal institutions within the state.
In response to the looming threat of flooding, the state government has taken proactive measures by establishing an inter-governmental flood management committee. This committee will spearhead efforts to address potential flooding issues, ensuring the safety and relief of affected communities.