A senator representing Abia North senatorial district, Orji Kalu, says he has facilitated N50,000 cash grants for nano businesses for over 500 entrepreneurs across his district under the federal government’s Conditional Grant Scheme.

The initiative, implemented in collaboration with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), was flagged off at Bende Local Government Headquarters, Bende, in Abia State. 

The scheme, which aligns with President Bola Tinubu’s administration’s efforts to support nano businesses and strengthen grassroots economic development, provides financial assistance to small-scale operators, including petty traders, food vendors, shoe repairers and provision sellers.

Mr Kalu’s Chief Press Secretary, Kenneth Udeh, disclosed this in a statement to journalists on Thursday in Abuja.

Mr Udeh said the initiative was part of Mr Kalu’s broader human empowerment and capacity development agenda, which formed a key component of his representation priorities.

He said the programme was designed to reach beneficiaries across the five local government areas of Abia North, irrespective of their political affiliations.

According to him, Mr Kalu’s interventions also cover education, infrastructure, agriculture and human capital development.

Mr Udeh said the senator sponsored over 50 students for further academic studies and capacity-building training.

Speaking, a senior SMEDAN official, Charles Ofobruche, said the initiative was designed to strengthen nano businesses through direct financial assistance.

He explained that beneficiaries would receive grants to support their businesses, improve operations and enhance their growth prospects.

Mr Ofobruche said the Conditional Grant Scheme was one of SMEDAN’s flagship programmes and had been running since 2017, targeting the smallest category of businesses within the entrepreneurial pyramid.

“What we do basically is that we identify these nano businesses. They are the smaller sector or smaller businesses in the scheme or in the pyramid,” he said.

He noted that many beneficiaries operated businesses with relatively low turnover but contributed significantly to livelihoods and grassroots economic activities.

According to him, SMEDAN also encourages beneficiaries to formalise their businesses by registering with the agency and taking advantage of available opportunities for Corporate Affairs Commission (CAC) registration.

On Mr Kalu’s role in the programme, Mr Ofobruche described the senator as a stakeholder who advocated the inclusion of his constituents in the scheme.

“The distinguished senator is a stakeholder and, being the former governor of the state, he has said, ‘My people need this empowerment.’

“That is why we are also here to see how the senatorial district can be covered, and, of course, Abia State at large,” he said.

Addressing the beneficiaries, SMEDAN’s Director-General and Chief Executive Officer, Charles Odii, urged them to view the grants as an opportunity to develop their businesses and pursue long-term growth.

Mr Odii encouraged the beneficiaries to communicate their challenges and take advantage of support available through government agencies.

He emphasised the agency’s philosophy, “Think big, start small, and prosper,” urging the entrepreneurs to remain focused on building sustainable businesses.

The SMEDAN chief executive stressed the importance of government representatives and agencies listening to citizens’ concerns and working towards addressing their needs.

Earlier, Mr Kalu said the financial support was intended for the beneficiaries and not for his personal benefit.

He said he could have sought to control the distribution of the funds but instead chose to ensure that the government initiative reached its intended recipients.

Mr Kalu urged the beneficiaries to appreciate the value of the intervention and use the funds for the purposes for which they were provided.

He also expressed support for the federal government’s economic policies, attributing some of the economic pressures facing Nigerians to broader global challenges, including international conflicts and their effects on fuel prices, foreign exchange and trade.

The senator reaffirmed his support for Mr Tinubu’s economic reform agenda and called on the people to remain engaged in the political process.

Some beneficiaries at the event, drawn from different political affiliations, expressed appreciation to Mr Kalu for facilitating the programme.

They said the N50,000 grant would help strengthen their businesses, increase production, improve profitability and expand daily operations.

The beneficiaries described the intervention as a welcome form of grassroots economic support, particularly for entrepreneurs operating with limited capital. 

(NAN)