Federal Government Urges Southeast Entrepreneurs to Tap ₦200Billion Business Funds

The Federal Government has urged entrepreneurs in Nigeria’s Southeast to take advantage of three major intervention funds worth ₦200 billion to grow their businesses and promote locally made goods.

The Minister of Information and National Orientation made the call in Enugu during a town hall meeting, part of a nationwide citizens’ engagement tour to explain the Renewed Hope Agenda. The funds – the Presidential Conditional Grant Scheme (PCGS), the FGN MSME Intervention Fund, and the FGN Manufacturing Sector Fund – are targeted at boosting small businesses, strengthening manufacturing, and expanding Nigeria’s industrial base.

The Minister described the Southeast as a vital hub for local production and innovation, encouraging business owners to embrace the “Nigeria First” policy, which prioritises patronage of locally made products. “These funds have been designed with entrepreneurs in mind. We want to see the Southeast take the lead in manufacturing, innovation, and export,” he said.

The federal delegation’s visit to Enugu also focused on showcasing ongoing projects across the state and the region. These include the modernisation of the Eastern Railway Corridor from Port Harcourt through Aba and Enugu to Maiduguri, the rehabilitation of more than 1,000 primary healthcare centres, and the construction of a world-class oncology and cancer centre in Enugu. The team also inspected the nearly completed 350-metre Eke Obinagu flyover bridge, which will connect Enugu to Ebonyi, Akwa Ibom, Cross River, and even Cameroon.

The Minister commended the Enugu State Government for working closely with the Federal Government to deliver infrastructure, health, and social development projects. He highlighted that Enugu and Imo are among 11 states granted regulatory autonomy under the new Electricity Act, which allows them to manage their own power markets – a move he encouraged other Southeast states to follow.

Speaking on the economy, he noted that indicators such as food prices and foreign exchange rates are beginning to stabilise, with global rating agencies projecting Nigeria’s growth towards a $1 trillion economy by 2030. While acknowledging that challenges remain, he expressed confidence that the impact of current reforms would become clearer before the end of President Bola Tinubu’s first term, positioning the Southeast as a key driver of national economic growth.

During a courtesy visit to Governor Peter Mbah, the Minister reiterated the President’s commitment to the development of Enugu and the Southeast, stressing that the removal of fuel subsidies has freed up resources for investments in critical infrastructure and social services. He praised the governor’s achievements in education, infrastructure, security, and culture, describing them as in line with the President’s vision.

Governor Mbah credited the financing of major state projects – including the construction of 7,000 classrooms, 3,300 hospital beds, and 260 farm estates across the state – to the additional resources made available by the subsidy removal policy. He reaffirmed his support for federal policies, pledging continued collaboration to deliver development that directly benefits the people.

The town hall was attended by traditional rulers, religious and community leaders, market associations, youth representatives, and leaders from various political parties.