Fubara gives N4bn loan to over 3,000 MSMEs

The event, which took place in Port Harcourt on Friday, marked the start of the Rivers State Government/Bank of Industry Limited’s N4 billion marching loan project for nano, small, and medium-sized firms in the state.

Nelson Chukudi, the Governor’s Chief Press Secretary, announced in a statement.

Fubara stated that a lack of access to finance had exacerbated financial exclusion and hampered individuals’ ability to achieve their economic goals for a better life.

Fubara stated, “Today, we are all here to witness the formal launch and distribution of checks to 3,066 micro, small, and medium-scale enterprises and 100 companies in the state from all 23 local government areas, including businesses owned by non-indigenes valued at over N3.6 billion only.

“We are satisfied with today’s outing and professionalism, believing even more strongly that the potential outcome will be greater for both BOI, the government, and the good people of Rivers State.

“As a state, we cannot talk about economic growth without stimulating business activities to create wealth and jobs through policies and pprogramsthat will engender greater public access to credit and financial inclusion.”