Business
Unemployment: Rep Advocates Investment In Crafts
A member of the House of Representatives, representing Degema/Bonny Federal Constituency, Dr. Sokonte H. Davies, has described investment and training in arts and crafts as one of the ways of overcoming the challenge of unemployment in the country.
Hon. Davies who made this assertion in Bonny, headquarters of Bonny Local Government Area of Rivers State during the opening ceremony of a five-day intensive craft training programme, said, “we are in an era where the vogue is self-employment.”
He said the essence of the programme was to generate employment, create wealth and bring to the fore a new class of small-scale entrepreneurs that would boost the local economy and beyond.
The training, he added, was tailored to produce crafts of international standard for local and international markets, pointing out that participants would be exposed to various branding and marketing strategies, including marketing their crafts through the Internet.
The lawmaker gave the assurance that his office would give assistance to trainees willing to explore and use the e-market disclosing that a start-off grant in form of equipment and accessories would be provided for the participants and enjoined them to take the training seriously. On ICT, Hon. Davies promised to open a centre in Bonny to complement the one already established in Port Harcourt.
The Chairman of the Local Government Council, Ho. Edward Pepple, represented by the Executive Assistant, Administration and Finance, Wariesenibo Darlington e programme as critical to the socio-economic advancement of the constituency.
Banigo, in his speech described the programme as critical to the socio-economic advancement of the constituency.
The Chairman, noted that opportunities abound in the programme and urged participants to explore and exploit it to the betterment of their wellbeing, and commended the lawmaker for the different empowerment programmes he had always initiated in the constituency.
In her address, the Director General, Nigerian Tourism Development Corporation (NTDC0, represented by the Director, Training, Mrs. Trudy Edwards, espoused the place of indigenous arts and crafts in sustaining the tourism industry and boosting the economy.
the economy.
She stated that impressive efforts were being made at both the federal and state levels to transform the arts and crafts industry “into an economically viable sector and in line with the tourism industry.”
The Director General noted that the ongoing training programme was a platform to expose participants to the yet-to-be-tapped numerous tourism opportunities, adding that the focus on coral beads, aso-oke making and fabric/textile designs was a step in the right direction for many to be gainfully employed.
She also pointed out that the programme would involve local communities to learn about impacts, options and possibilities of tourism development.
The Commissioner for Employment Generation and Empowerment, Dr. Ipalibo Harry, on his part, said the initiative of Hon. Davies was in tandem with the aspirations of the ministry, which he said was poised to create several opportunities for self-employment through various craft training programmes of the administration.
Represented by Mr. Ibiba Dokubo, Director of Employment, Dr. Harry gave kudos to the honourable member, adding that he had always meant well for the constituency and its people.
Earlier in a keynote address Head of Department of Management Science, Rivers State University of Science and Technology, Chief (Dr.) Zeb Obipi explored the relevance of the training programme, which according to him, was intended to engender change in the lives of participants and that of the Bonny community as a whole.
He said the training would open doors for economic opportunities as it was designed to make them potential entrepreneurs.
The training programme is the initiative of the lawmaker in collaboration with NTDC .
Business
SMEs Dev: Firms Launch N100m Loan Scheme
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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