In keeping with global and expert agreement that SMEs drive economies, the new governor of Abia State, Dr Alex Otti, has launched a 10 billion Naira MSMEs financing scheme that will target 20,000 entrepreneurs in the next 2 years.
The idea of empowering MSMEs is that if you empower 20,000 entrepreneurs with seed capital, not 10k insignificant trader money, you are going to be hopeful that about 10,000 of them will succeed. Now, when the business of the 10,000 starts to flourish, they are going to need at least 2 employees to help them manage the business. Multiply 2 into 10,000 and you have 20,000 people that is employed. Add that 20,000 to the 10,000 owners of a flourishing MSMEs and you will have 30,000 people that you have successfully taken out of joblessness. And with good management and training, their number of employees will keep increasing.
Repeat the process after monitoring the progress of the first batch and by the time you are done in office, you may have created about 100,000 millionaires, not trader money beneficiaries.
That’s how people with brains run an economy, and this is not rocket science.
Economic points in Abia State Governor inauguration speechhttps://twitter.com/FinPlanKaluAja1/status/1663239986341384192?t=ChENyOiEh5E9EDpjcK0N8Q&s=19
"Our government shall be 100% pro-business. Government shall not be in competition with the private sector. It shall instead remain a facilitator"
Good baseline focus on PPP
"Our government shall, launch a N10b MSME financing scheme, which will comprise conditional business grants and low interest loans to support a minimum of 20,000 MSMEs over the next 2 years and generate 100,000 direct jobs and another 200,000 indirect employments in the State"
"Work closely with my team to drive the recruitment of about 5,000 new teachers for our primary & secondary schools. Priority shall be given to STEM (science, technology, engineering, and mathematics) subject areas and to those who are also willing to serve in rural communities"
"The setting up of a cabinet level position within the Governor’s Office to drive our ‘Ease of Doing Business’ agenda. The appointee shall work closely with me to see that Abia moves from its present poor position into the Top 5 in the “Ease of Doing Business” index in Nigeria"
"Let me state that for me, awards, honours and recognitions are not welcome until I leave office. Put diffently, any awards, titles, recognitions or the like that I did not receive before now should wait until we leave office."
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