2023 AITF: FG Earmarks N75b To Support SME’s

By Mathew Ayoola

The Federal Government has put in place a 75 billion naira intervention fund to support small businesses in response to the country’s current economic challenges.

The Minister of Industry, Trade and Investment, Dr Doris Uzoka -Anite made this known while declaring open this year’s Abuja International Trade Fair, AITF.

Dr. Uzoka-Anite who was represented by the Director of Commodity and Export, Mr Kaura Irimiya said the fund which would be disbursed in March, 2024 is to strengthen the manufacturing sector.

The Minister stated that the Federal Government would equally provide small grants to micro businesses in each of the 774 Local Government Areas in the country.

In a message, the Minister of FCT, Nyesom Wike expressed the Administration’s readiness to collaborate with the private sector towards repositioning economic and business activities in the Territory.

The Minister who represented by the Mandate Secretary, Economic Planning, Chinedu Elechi therefore solicited the cooperation of the private sector most especially in the area of taxation towards boosting the FCT Internally Generated Revenue, IGR.

Speaking on the theme of this year’s Trade Fair “Sustainable Financing and Taxation, Dr. Al-Mujtaba Abubakar said AITF has served as a trusted global trade destination attracting over five hundred thousand consumers and providing a platform for business relationship,.trade opportunities and ideas.

“As a leading Chamber of Commerce and Industry, we continuously strive to improve the quality of our trade events and this year we have added side attractions such as rewards, free jollof rice tasting and a fashion runway to enhance the Fair’s appeal ” He stated

According to him, trade fair is part of ACCI ‘s initiative to connect businesses and create a platform for policymakers to interact with the business community, recognizing the vital role of small businesses in the national economy.

“We encourage everyone to participate in the 12 days event, engage in business networking and attend special days organized by Government ‘s Agencies, Ministries and Parastatals, States, private sector and countries at the Fair” the President of ACCI added

Edited By Grace Namiji