Akwa Ibom Disburses ₦2bn To 3,496 Traders, Earmarks ₦31bn For Empowerment

The Akwa Ibom State Government has disbursed ₦2 billion to 3,496 traders across the state’s 31 local government areas to support small businesses and stimulate commercial activities in rural communities.

The Commissioner for Trade and Investment, Capt. Iniobong Ekong, disclosed this during the ongoing ministerial briefing at Akpan Isemin Hall, Government House, Uyo, the state capital.

Ekong said the state had earmarked ₦31 billion in 2026 for the empowerment of traders, youths, women, farmers, transport operators and owners of Micro, Small and Medium Enterprises (MSMEs) under the ARISE Agenda of Governor Umo Eno’s administration.

He listed business support, market infrastructure, investment promotion and industrial development among the achievements of the ministry, adding that the initiatives were designed to expand economic opportunities and strengthen commercial activities across the state.

According to him, the ministry is working to position Akwa Ibom as a leading destination for investment, trade, industrialisation and the growth of small businesses.

“The Ministry of Trade and Investment has the mandate to reposition the state as a leading investment destination and centre for trade, industrialisation, and growth of small businesses in line with the developmental framework of the ARISE Agenda,” he said.

Ekong explained that the grants disbursed to traders were intended to provide working capital, enable beneficiaries to expand their businesses, restock their shops and meet customer demand.

He said the government considered support for small businesses important to promoting commercial activities, particularly in rural communities, where traders depend on access to capital to sustain and expand their operations.

On market infrastructure, the commissioner disclosed that work was progressing on the Ikot Ekpene Modern International Market, a project designed to accommodate 1,200 shops across 30 market blocks.

He said the market was being developed with facilities to support wholesale and distribution activities, including warehouses, an administrative building, a dedicated power station, borehole water supply, cooling facilities, a modern slaughterhouse, two restaurants and internal roads.

Ekong disclosed that the perimeter fence of the market project was 95 per cent complete, while the installation of gates was expected to be completed.

He said the project was part of the ministry’s efforts to improve market infrastructure and provide a more organised environment for commercial activities.

The commissioner also announced plans to establish industrial complexes for agricultural processing as part of efforts to attract investors, promote local production and create more business opportunities.

On export development, he said the ministry was collaborating with the Nigerian Export Promotion Council to promote non-oil exports and develop a framework to help local producers reach wider markets.

According to him, the partnership was aimed at supporting local producers to access opportunities beyond the state and improve the market reach of their products.

Ekong added that the ministry was monitoring locally produced commodities, including cocoa, palm oil, palm kernel, rubber and ginger, to assess their quality and classification and track their movement.

He explained that the exercise was expected to help curb smuggling and reduce revenue losses.

The commissioner further disclosed that the ministry was implementing the State Action on Business Enabling Reforms (SABER) programme, supported by the World Bank, to improve the business environment.

He said the programme involved reviewing regulations, permits, fees and administrative procedures affecting businesses, with the aim of simplifying operations and promoting transparency.

Ekong said the ministry was also providing technical, administrative and financial training, as well as consultancy services, to micro, small and medium-sized enterprises.

He added that the ministry was researching locally available raw materials and working with the Standards Organisation of Nigeria (SON), the National Agency for Food and Drug Administration and Control (NAFDAC), and the Corporate Affairs Commission (CAC) to help businesses meet relevant standards.

The commissioner said these initiatives formed part of the state government’s broader efforts to strengthen small businesses, promote investment, develop local industries and expand commercial opportunities under the ARISE Agenda.