.We received over 10,000 applications, says Ag.MD
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Poised to mitigate the adverse effects of the Covid-19 Pandemic on businesses in Nigeria, particularly Medium and Small Scale Enterprises, in 2020, the World Bank introduced a support fund to facilitate recovery of MSMEs under the Covid-19 Action Recovery Plan and Economic Stimulus Programme.
Since the introduction of the Programme, Abuja Enterprise Agency (AEA), has ensured robust, diligent and consistent implementation of the Project in the six Area Councils of FCT, with appreciable success story being recorded on regular basis in all the Area Councils of the nation’s capital city.
Speaking during a one-day training programme organized by the Agency for over 1,000 candidates, the Ag. Managing Director and CEO of Abuja Enterprise Agency,Mr.Chudi Ugwuada-Ezirigwe revealed that after weeks of intensive sensitization across the six Area Councils of FCT, the Agency received over 10,000 applications, out of which over 1,000 were selected for training through a painstaking process in line with the World Bank criteria.
Mr. Ezirigwe who charged trainees to use the grants to stimulate their businesses in line with the World Bank standard, stressed that the money is not to be used as pocket money.
He further explained that globally SMEs is the major driver of economic growth and development of any nation, added that the present Administration, led by President Bola Ahmed Tinubu has given great impetus and top priority to SMEs development in the country.
Earlier, the Lead Operations of FCT Cares, Hajiya Hauwa Zambuk, explained that FCT Cares is a World Bank support programme intended to assist SMEs recover from the negative effect of COVID-19 Pandemic.
She urged participants to take the training exercise seriously in view of its importance towards business growth.
Participants were full of appreciation to Abuja Enterprise Agency for the quality of experts selected to midwife the training, which include financial literacy, access to business loan, challenges associated with SMEs, amongst others.
