Akwa Ibom State Government, on Saturday, approved a N31 billion business support fund for small and medium enterprises (SMEs) in the 2026 fiscal year, with N1 billion allocated to each of the state's 31 local government areas in a significant effort to expand access to finance, boost grassroots enterprises, and strengthen women-led businesses.
The State Governor, Pastor Umo Eno, announced the initiative through the Deputy Governor, Senator Akon Eyakenyi, at the ongoing state-wide women sensitisation tour on civic responsibilities at Etim Ekpo local government area.
Eyakenyi stated that the intervention is part of the administration's broader economic growth strategy designed to reduce poverty, enhance financial inclusion, and empower women and small-scale entrepreneurs to build sustainable livelihoods.
According to her, each local government council would receive N1 billion dedicated to small and medium-scale enterprises, with beneficiaries drawn largely from agriculture, artisan trades and informal sector businesses.
“The governor is committed to ensuring that every woman can earn a living and provide for her household,” Eyakenyi said. “The N31 billion investment across the 31 local government areas is designed to open up access to capital for small businesses and strengthen our local economies.”
She added that about 1,000 women in Etim Ekpo local government area alone are expected to benefit in the first phase of the programme, with similar rollouts planned statewide.
Beyond economic empowerment, Eyakenyi urged women to obtain their National Identification Number and complete electronic registration, describing both as necessary for civic participation and inclusion in government support initiatives.
Chairman of Etim Ekpo Local Government Area, Mr Gideon Uwah, commended the state government for prioritising grassroots development, saying that the funding would directly impact households and small traders across the area.
He described the governor’s approach as inclusive and people-driven, noting that it has strengthened public confidence in governance at the community level.
In her remark at the occasion, the Commissioner for Women Affairs and Social Welfare, Hon. Inibehe Silas Etukudoh, encouraged women to take full advantage of the opportunities by participating actively in both the empowerment programme and civic processes.
Also speaking, the Commissioner for Youth Development, Dr Ekerette Ekanem, called on young people to also engage in entrepreneurship and political participation to attract more development to the area.
Special Adviser to the Governor on Bureau of Cooperatives, Rt. Hon. Alice Ekpenyong, urged women to establish cooperatives at the Ward level to improve access to funding and resources, describing collective enterprise as key to scaling small businesses.
A stakeholder and party stalwart, Barr Emmanuel Enoidem, said the administration’s focus on women’s economic growth and financial inclusion would strengthen local industries, particularly agriculture and palm oil production. He donated N3 million to support women entrepreneurs in the area.
The deputy governor's team later continued the sensitisation tour to Ika local government area, where they received a tumultuous welcome from a massive crowd of women and APC supporters.
The meeting forms part of the state government’s broader plan to combine enterprise financing with grassroots mobilisation, positioning small businesses as drivers of economic expansion across Akwa Ibom.
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