The Akwa Ibom State Government has supported 3,496 traders across the state’s 31 local government areas with a ₦2 billion grant to grow their businesses, strengthen micro, small and medium enterprises (MSMEs), and stimulate economic activities as part of efforts to drive inclusive economic growth.
The Commissioner for Trade and Investment, Captain Ekong (Rtd.), disclosed this during a ministerial media briefing themed “Unlocking Opportunities: The Role of Trade and Investment in the ARISE Agenda,” where he presented the ministry’s scorecard, ongoing interventions and strategic priorities for economic growth.
Highlighting the Ministry’s transition from policy formulation to active facilitation, the commissioner noted that the Ministry is building an enabling business environment where small businesses can thrive, investor confidence can grow, and made-in-Akwa Ibom products can gain greater access to regional and global markets.
He explained that the traders’ grant provided beneficiaries with additional working capital to expand their businesses, replenish stock, improve their capacity to meet consumer demand and sustain their trading activities.
According to him, the intervention reflects the state government’s commitment to grassroots economic development and the promotion of MSMEs as drivers of employment, enterprise growth and economic prosperity.
He clarified that the ₦2 billion traders’ grant was separate from the ₦31 billion economic empowerment programme captured in the 2026 budget. The programme is structured around the state’s 31 local government areas and targets traders, youths, women, farmers, transport operators, and small and medium-sized enterprises.
The commissioner noted that the ministry’s activities align with the governor’s vision, which prioritises an enabling business environment, private-sector participation, industrial development and inclusive economic growth.
He said the ministry was committed to positioning Akwa Ibom as a leading destination for trade and investment in West Africa through business-friendly policies, improved infrastructure, enterprise support and the promotion of locally produced goods.
On business environment reforms, the commissioner said the ministry had undertaken a comprehensive review of regulatory frameworks, permits, fees and administrative processes under the World Bank-supported State Action on Business Enabling Reforms (SABER) programme.
He explained that the reforms were designed to improve transparency in official fees and procedures, enhance accountability in the public sector, facilitate interstate trade and strengthen export certification processes.
The commissioner added that the ministry was also providing advisory services, technical support and business development assistance to MSMEs to improve product quality, market competitiveness and sustainability.
On trade infrastructure, he identified the ongoing construction of the Ikot Ekpene International Market as a major project aimed at expanding commercial activities, improving market access and strengthening agricultural and industrial value chains.
He said the project was being implemented in two phases, with the first phase designed to provide 30 blocks of modern shops comprising 1,200 shops, warehouses, an administrative block, security posts, a dedicated power facility, borehole water supply, cold-room facilities, a modern abattoir and two restaurants.
Other facilities include 2.5 kilometres of asphalt internal roads, 3.79 kilometres of concrete roads and perimeter fencing, which he said was about 95 per cent complete, pending the installation of gatehouses and associated infrastructure.
He expressed optimism that, upon completion, the market would serve as a major commercial and logistics centre, attracting investors, creating employment opportunities, boosting internally generated revenue and positioning Ikot Ekpene as a leading trade destination in Akwa Ibom and the South-South region.
On export promotion, the commissioner said the ministry was collaborating with the Nigerian Export Promotion Council through the State Committee on Export Promotion to strengthen the capacity of local exporters and increase the contribution of non-oil products to the state’s economy.
He further explained that the ministry’s produce inspection and standardisation activities covered commodities such as cocoa, palm oil, palm kernel, rubber and ginger to ensure proper grading, quality control and compliance with applicable regulations.
He said monitoring the movement of produce within the state and across interstate routes was also necessary to check adulteration, diversion and smuggling, while safeguarding revenue and improving the reliability of trade statistics.
As part of its capacity-building efforts, the ministry continues to provide technical, managerial and financial development support to MSME operators, including consultancy and business development services through its field officers.
Looking ahead, the commissioner listed the proposed Akwa Ibom Investment Forum and Trade and Investment Roundtable, the full operationalisation of a One-Stop Investment Centre, the establishment of three agro-processing industrial clusters in Eket, Ikot Abasi and Oron, and the hosting of the maiden Akwa Ibom Non-Oil Export Summit among the ministry’s priorities.
He said these initiatives were expected to strengthen investor engagement, improve access to investment opportunities, promote value addition to local agricultural products and create a more coordinated framework for business development.
The commissioner commended Governor Umo Eno for his commitment to economic development, particularly the declaration of a state of emergency in the power sector, which he described as a critical enabler of trade, industrialisation and investment.
He reaffirmed the ministry’s commitment to transparent governance and result-oriented partnerships, assuring investors and entrepreneurs of the state government’s readiness to support genuine business initiatives.
Also speaking, the Chairman of the Nigerian Union of Journalists (NUJ), Akwa Ibom State Council, Comrade Nsibiet John, appealed to the state government to bring companies operating in the state’s natural resources sector to the negotiating table to ensure a mutually beneficial memorandum of understanding (MoU) that protects the interests of the state and its people.
Comrade John commended the governor for increasing the students’ bursary to ₦200,000 and to ₦250,000 for students studying professional courses in the state.
The briefing was attended by the Permanent Secretaries in the Ministries of Information, Akparawa James Edet; Justice, Mfon Edemekong, Esq.; and Trade and Investment, Dr Stephen Effiong; the State Statistician-General, Mr Uduak Isaac; directors of the Ministry of Justice; and journalists from broadcast media, national newspapers and local newspapers
