Business
Stakeholders Hail Akwa Ibom For Agric Transformation
Stakeholders in the nation’s agricultural sector have commended the various transformation efforts of the Akwa Ibom State government to re-position the sector in the state.
An agriculturist, Timothy Inyang, said that although Akwa Ibom receives the highest revenue allocation in derivation, agriculture has remained the main source of livelihood for the people.
He said: ‘‘Notable cash crops for which the state is well known include cassava, yam, cocoyam, maize and plantain.
He recalled that the state governor, upon assumption of office for his second term, launched the ‘Completion Agenda’ with objectives to unite the people after rancorous election and to signpost the direction he is taking the state in his last term in office, noting that agriculture is a critical component of his ‘Completion Agenda’.
“There couldn’t be a better avenue through which to bring together people whose main occupation has been farming from days of yore. It is one area that does not recognise dialect, ethnicity or political affiliations.”
“Agriculture is an area for which the state is well known and in which it has both comparative and competitive advantages over many states in the country,’’ he said.
He also said that in pre and post-independence Nigeria when agriculture was the nation’s economic mainstay, what is today Akwa Ibom State was one of the areas that gave the then Eastern Region the edge over other regions in palm produce, one of the country’s major exports then.
Another stakeholder, Henry Essien, said fishing is basically the economic mainstay of people in the riverine areas, while Oron and Eket serve as major fish markets for traders from neighbouring states like Abia and Imo.
“Governor Emmanuel tried in his first term to take agriculture from the subsistence level it has been to a level at which it can be a source of livelihood for farmers, feed the people of the state and also be a foreign exchange earner,” he said.
“He has a string of achievements to show for his effort. Those that stand out as testimonies are cultivation of 2, 100 hectares of cassava plantation in 15 local government areas under the FADAMA project; cultivation of 1, 200 hectares of rice; registration of 40, 000 rice farmers for the Central Bank of Nigeria Anchor Borrowers Programme; training of 450 youths on cocoa maintenance and distribution of 500, 000 improved cocoa seedlings to farmers across 28 cocoa producing local government areas at highly subsidised rates.
‘‘The government set up the Akwa Prime Hatchery that produces 10, 000 birds weekly; constructed the Vegetable Greenhouse and constructed cassava micro-processing mills across the state. It also planted 500 citrus seedlings, 600 hybrid plantain suckers and 1, 000 pineapple suckers, among many others,” Essien said.
Governor Emmanuel has promised that in the Completion Agenda of his second term, he would boost the agricultural sector with a new policy framework that would make the state self-sufficient in food production, generate employment in the sector and also create wealth in the entire agricultural value chain.
Kolomoni Microfinance Bank has awarded grants to five female entrepreneurs to boost their businesses as part of its commitment to promoting women in business.
The initiative, organized to mark International Women’s Day, was themed “Accelerate Her Growth.”
According to the bank, the decision to support women was inspired by World Bank data, which shows that 41 percent of Nigeria’s micro-businesses are owned by women.
Delivering the keynote address, business strategist, Ebun Akinwale, emphasized that entrepreneurship requires resilience, creativity, and passion.
She illustrated this by recounting her own business challenges and highlighting the critical role passion plays in overcoming obstacles.
The event underscored Kolomoni’s mission to empower women and support small businesses in Nigeria.
Other speakers at the occasion were Odunayo Oyebolu, a seasoned entrepreneur; Victori Ajiboye, a marketing strategist with global experience; and Simi Ojumu, a finance expert.
The beneficiaries said the financial support was a validation of their hard work and a boost of confidence towards scaling through in their businesses.
The winners were selected after sharing their entrepreneurial journeys and presenting business proposals for financial assistance from the bank.
The 8th edition of the Nigeria Small and Medium Enterprises (SMEs) Summit and Awards (Nigeria SMEAwards) is set to take place in Lagos for the first time in its history, marking a significant milestone for this prestigious event.
Endorsed by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), the annual awards celebrate the entrepreneurial spirit driving Nigeria’s economy.
The visionary convener of NigeriaSMEAwards 2025, Adedayo Olalekan, said, “Governors from Zamfara, Sokoto, Ebonyi, Borno, Enugu, Ekiti, Benue, and Kaduna States have all implemented transformative initiatives that have greatly benefitted local enterprises.
“Their contributions will serve as a beacon of inspiration for the nation.”
Speaking at a recent press conference in Lagos, Olalekan emphasised that the event would introduce a fresh and unique approach, moving away from tradition.
“Despite economic challenges, Nigerians continue to show an unwavering commitment to progress”, he said.
He noted that the awards will not only honor outstanding individuals, but also recognise the critical role state governments play in nurturing vibrant SMEs.
“State governments have been instrumental in fostering a supportive environment for SMEs, which in turn benefits both the awardees and the larger economy.
“With major banks like Providus, Access, and First Banks competing for top honors, the 8th NigeriaSMEAwards promises to be a night of celebration, recognising exceptional contributions to Nigeria’s SME landscape”, Olalekan added.
Amid global challenges such as inflation, geopolitical instability, and the ongoing conflict in Ukraine, Nigerians continue to show remarkable resilience.
Their efforts, according to reports, have contributed to job creation, economic growth, and overall prosperity, with SMEs at the forefront of this success.
This year’s awards will recognise governors who have made significant strides in advancing the SME sector within their states.
Small and Medium Enterprises (SMEs) consultants in Rivers State have called on entrepreneurs to be focused and avoid distractions.
The experts, who were speaking on the recent developments about the change of leadership in the state, said entrepreneurs need to put more efforts in their businesses in order to break even in the present situation in Rivers State.
Speaking in a chat with The Tide, an international SMEs consultant, Amb. Larry Goodwill Ajiola, said the political moves is capable of distracting SMEs who are not grounded in their businesses, adding that “the serious minded business men and women would utilise the opportunity to increase their revenues”.
Amb Ajiola, who is the President and Chief Executive Officer (CEO) of Rumuomasi Co-operative and Credit Society Limited, Port Harcourt, said, “Rugged entrepreneurs look out for business opportunities in situations around them, whether good or bad”.
He reiterated that the loan facility given to 3,000 SMEs in the state revived and expanded businesses, adding that the empowered businesses should continue to push, no matter the situation.
“credit is a powerful tool for achieving financial security.
“We can only keep imagin the economic value that the over 3,000 MSMEs would add to the positive economic dynamics of Rivers State and the Local Government Areas in terms of Gross Domestic Prooduct (GDP), increased tax returns, employment creation, income distribution, and production of goods and services”, he said.
Another SMEs Expert, a business consultant and SMEs trainer, Mr. Chisom Sam-Orji, in his advice, noted that every SME in the state should realize that change is the only constant thing.
He said SMEs should also know that “tough times never last, but tough people do”, adding the need for every entrepreneur to stay focused on creating value and remain resilient.
“This is not the time to be distracted by every noise around your space, but to maximize every time you have to focus on the essentials and keep creating value.
“For some people, it may just be the time to diversify, create new products and services to serve a new or existing market. But this must be based on the facts available to you via research and market surveys”, he said.
The SMEs expert also said the present time in the life of an entrepreneur is a time to cut off unnecessary excesses that surround one’s business.
“Those extra costs that may hamper your growth in this season and beyond, and focus on just essentials.
“SMEs should find certain leverages that are available to aid their business growth. This could be in form of grants, knowledge, and other leverage tools.
“Collaboration is one big way to grow in this season. Finding ways to collaborate with like minds instead of competing could enable a product or service gain advantage in the market and beyond.
“They should also find ways to sustain and grow their customer relationship as this is key to sustaining business flow. They must seek new and efficient ways to serve their customers and gain their loyalty”, he stated.
He further called on every entrepreneur to keep building capacity and never take their eyes off their visions, adding the need to muster every courage it takes to keep building and moving forward.
Lilian Peters