Akwa Ibom State Grants ₦2bn to Traders, Plans ₦31bn Empowerment

On October 29, the Akwa Ibom State Government announced the disbursement of ₦2 billion in business grants to 3,496 traders and entrepreneurs across its 31 local government areas. Captain Iniobong Ekong (rtd.), the Commissioner for Trade and Investment, revealed this during a ministerial briefing in Uyo.

The grants are intended to provide working capital for beneficiaries to expand their businesses and meet customer demand. Additionally, ₦31 billion has been earmarked in the 2026 budget for a broader empowerment program targeting various economic groups, including traders, youths, women, farmers, and MSMEs, as part of Governor Umo Eno’s ARISE Agenda.

The ministry plans to enhance the business environment and attract investments through initiatives such as an investment forum in early 2027 and the development of market infrastructure, including the Ikot Ekpene modern market project. The state is also collaborating with the Nigerian Export Promotion Council to promote non-oil exports and improve local businesses' access to markets.