Sen. John Owan-Enoh, Minister of State for Industry, has assured that the N500 million intervention fund for Micro, Small and Medium Enterprises (MSMEs) in Cross River will be transparent, credible, and devoid of political influence.
Owan-Enoh gave the assurance on Friday in Calabar during the unveiling of the initiative, stressing that the programme was designed to reach genuine residents in need of financial support to grow their businesses.
“Since I decided to do this, I have received so many requests from people asking to be included. My answer has been the same: I don’t have the power to include anyone. Everyone must wait for the unveiling and follow the instructions. This is to avoid any political interference,” he said.
The minister explained that the programme was open to all residents of Cross River, not only indigenes, adding that interventions remained necessary to support struggling businesses.
“Not everyone given N500,000 will succeed, but government must continue to assist those who fall behind from time to time,” he added.
On the implementation, activist and journalist Agba Jalingo, representing the committee, said the programme would run in four batches across two categories – formal and informal.
He explained that in each batch, 150 beneficiaries in the formal sector would receive up to N500,000, while 325 in the informal sector would receive N150,000 each.
“This is not government money; it is a private initiative of the minister, and not a dime will be stolen. Our duty is to ensure that every kobo goes directly to those who need it most,” Jalingo said.
He added that applications could be made online via www.hmindustry.ng, while physical forms would be provided for artisans and small-scale business owners without internet access.
(NAN)