100 days: Fubara initiates N4bn MSMEs fund, to commission projects

By Okafor Ofiebor/Port Harcourt

Governor Siminalayi Fubara has announced the setting up of a N4 billion fund to be managed by with Bank of Industry to support the growth of Micro, Small and Medium Enterprises (MSMEs) in Rivers State.

Fubara announced the setting up the fund in a statewide broadcast to mark his 100 days in office on Wednesday.

He said the fund will facilitate creating jobs for the youths and business-minded people of the state.

He also assured that his administration’s priority is to secure the lives and property of the people of the State.

Fubara noted that his administration is up to date in the payment of salaries and pensions to civil servants and has continued to gradually clear the backlogs of gratuities to beneficiaries and restore water in the State Secretariat complex.

On projects, Fubara noted that on 17 July 2023, he flagged off the construction of the single largest infrastructure project by a state Government in this country – the Port Harcourt Ring Road project as part of his administration’s comprehensive infrastructure development master plan for Rivers State.

According to him, the 50.15 km dual carriage ring road, when completed, will connect and strengthen economic progress and integration in not less than six local government areas and open a vast gateway for new local and foreign direct investments in real estate, agriculture, hospitality, and industrial ventures into the State.

He added that the projects will transform communities in and around its alignments into thriving cities and create jobs and economic opportunities for many residents of the state.

The Rivers State Governor noted that in the past 100 days, his administration has funded, completed, and delivered 21 road projects it inherited from the previous administration, and added approximately 68 kilometres to the State’s road network.

He also listed the completed road projects across eight Local Governments to be commissioned on Thursday, 7th September 2023, as part of activities to mark his administration’s 100 days in office.

Fubara added that having prioritized road construction as part of a strategy to accelerate the socio-economic growth and development of the state, his administration has awarded contracts and concluded plans to flag off the construction of roads spread across five local government areas of Rivers

On education, he said, “In the last 100 days completed the acquisition of over a million copies of relevant educational resource materials, including basic textbooks, dictionaries, and encyclopedias, to be distributed to all primary and secondary schools across the State to enrich their libraries and improve the standards of teaching and learning experience in our school system.”

Aside from payment of WAEC and NECO fees for students in all public schools, Fubara noted that his administration had within the timeline, completed the reconstruction and furnishing of six secondary schools with 124 classrooms, modern furniture, science laboratories, ICT, library, administrative block, assembly halls, dormitories and staff quarters spread across six local government areas of the State.

“In the area of health, the state we have started implementing our agenda to improve access to quality healthcare delivery in the State. In the last 100 days, we have given a marching order to the Primary Healthcare Management Board to step up efforts to revamp and ensure effective access to primary healthcare services in all our communities.

Fubara said the Board has renovated not less than ten primary healthcare centres across the three senatorial districts of the State located at Elekahia, Rumuodomaya, Okehi, Oyigbo, Gokana, Opobo, Ahoada, Mina-ama, Okwuzi, and Okochiri communities.

He added that within 100 days his administration completed the reconstruction, upgrading, and equipping of two secondary healthcare hospitals: the Kelsey Harrison Memorial Hospital and the Dental, Maxillofacial, ENT, and Ophthalmology Hospital, to further strengthen the State’s capacity for the provision of affordable and quality healthcare services to all residents.

“These important hospitals with a combined 150-bed spaces and state-of-the-art equipment are due to reopen their doors to provide quality healthcare services to the public soon after they are inaugurated in a few days.

“Additionally, the Dental, Maxillofacial, ENT, and Ophthalmology hospital has been designated as an annex of the Rivers State University Teaching Hospital and used for Medical Research and the training of medical students at Rivers State University. He added that the Ministry of Special Projects has delivered the 10,000-seating capacity convocation arena for the University of Port Harcourt.

On the anticipated flooding of some parts of the state, Fubara said his government has set up an intergovernmental flood management committee with the responsibility to respond proactively to the looming flooding that may affect the inhabitants of the lowlands and flood plains of the State as predicted by the National Emergency Management Agency.

“With the launching of the flood mitigation road map, I can assure all residents that we are on red alert to respond to any imminent flood challenge in the State and provide safety and relief to those who will be affected”.

“On job creation and to stimulate economic growth, enhance job creation, and reduce poverty we have concluded plans to create a four billion (₦4,000,000,000.00) naira Enterprise Fund in partnership with the Bank of Industry to facilitate the development of micro, small, and medium enterprises (MSMEs) in the State.

“With this Fund, owners and intending MSME entrepreneurs will have ready access to credit to fund or start their enterprises at single-digit interest rates with a maximum of a five-year repayment period.

“There are plans to set up Youth Entrepreneurship Development Trust Fund to help create an enterprise culture and stimulate sustainable interest in entrepreneurial activities among our youths to advance self-employment and job creation.

“We have concluded plans to establish the State’s Investment Promotion Agency to advance local and foreign investments and the industrialization of the State,” Fubara added.

While projecting into the future, Fubara said there is nothing more compelling than to continue to focus on protecting the people of the state, grow the economy to provide a high standard of living, investing in human capital development to uplift the youths, and building infrastructure to attract investments and create jobs in Rivers.