The Head of Service of the Federal Capital Territory Administration, Dr. Udo Samuel Atang has stated that the administration is actively implementing programs to enhance the capabilities of MSMEs through technological advancements, while empowering recipients to thrive in a competitive market.
The FCTA Head of service stated this during the disbursement and training for FCT CARE program at the Abuja Enterprise Agency, AEA on Thursday. He maintained that by doing this they will help in unlocking the full potential of MSMEs to create jobs, stimulate innovation, and accelerate economic growth.
Speaking further, he said “Through the Abuja Enterprise Agency (AEA), the delivery platform for Result Area 3, we provided targeted support to vulnerable MSMEs, including Credit Grants, Operational Grants, and Technological Enhancements. Our proactive approach ensures that MSMEs receives the necessary tools to succeed thus contributing to the overall economic development of the FCT and Nigeria.
“The World Bank FCT- CARES programme has been quite impactful on MSMES operating in the Federal Capital Territory as we have achieved notable impact such as ensuring that over 2500 businesses remain viable and sustainable thus preserving over 10,000 jobs, enhancing the technological capability of over 1500 MSMEs in addition to enhancing their business management skills.
“It will interest you to note that over 50, 000 MSMEs have been on-boarded on the World Bank FCT – CARES Portal. Thus, plans are underway to transit the programme by the World Bank and Federal Government to CARES 2.0, which will significantly expand firms accessing the support and further deepen the impact on the economic recovery of Nigeria. The FCT Administration will put in place necessary mechanisms to ensure MSMEs in the FCT reap much more benefits from the project,” he stated.
Also speaking at the event, the Acting Managing Director, Chief Executive Officer of Abuja Enterprise Agency (AEA), CHUDI UGWUADA-EZIRIGWE noted that the agency serves as the delivery platform for Result Area 3 of this crucial initiative on behalf of the FCT Administration, stressing that since the inception of the FCT CARES Programme, they have been committed to its success through a range of comprehensive and strategic efforts.
He noted that their efforts included: Engaging and raising awareness among over 2,000 key stakeholders in the entrepreneurial ecosystem, such as SME Associations, Cooperatives, Area Councils, Traditional Rulers, BDSPs, Banks, Media Organizations, and others.
Extending outreach across all 6 Area Councils of the FCT by conducting sensitization visits to Area Council Chairmen, Traditional Rulers, local market organizations, focal persons, and other significant community figures. Conducting media tours across television and radio platforms to further promote the programme.
Training enumerators on the use of applications and the objectives of the FCT CARES project across all 6 Area Councils.
Fully deploying the AEA MSME Enumeration platform to collect data on MSMEs in the FCT and assessing the data to identify eligible firms for the programme and Conducting verification visits to all identified participants.
CHUDI UGWUADA-EZIRIGWE expressed delight in sharing that their combined efforts have resulted in significant achievements such that over 50,000 SMEs in the FCT have been successfully enrolled.
He stated further that verification and monitoring visits have been conducted for over 9,000 businesses, while more than 2,500 eligible entrepreneurs have been trained and sensitized and also accessed funding for their businesses.
“There is no doubt that MSMEs are critical to economic growth worldwide. This programme represents a vital step in supporting their recovery and enhancing their capacities through technological advancement,” he concluded.
Thousands of beneficiaries were empowered on Thursday.
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