By Osaigbovo Frank Okundia
As national economic policies tighten the noose on businesses, the Edo State Government has outlined key interventions fashioned at ensuring that the Edo economy remains resilient and continues to grow.
The interventions include clustering MSMEs to work with development partners to upskill them, access to finance through the N5 billion LAPO MFB administered loan facility, and access to energy with the partnership with the Renewable Energy Association of Nigeria to train 20 local renewable energy businesses.
The government has urged MSMEs in Edo to take advantage of these facilities to strengthen their businesses and weather the storm of rising costs.
Speaking on the subject matter, Mrs Joy, a trader at Ogbelaka said that she has already seen a hike in the price she pays for transportation, and fears that it may get worse if the rumoured N700 per litre price of petrol becomes a reality. She called on the State government to intervene and cushion the effect of the rising costs.
Mr Sunday Osas, a commercial bus driver says he will have no choice but to increase his charges if the news of perceived scarcity and cost of petrol becomes reality. He also called on the government to take stringent measures to curb arbitrary increase in transportation by bus drivers in the metropolis.
Reassuring the commitment of the Edo State Government, the Managing Director, Edo State Investment Promotion Office (ESIPO), Mr Kelvin Uwaibi, said that the government is committed to providing sustainable solutions to businesses in the state.
“The Edo State Government is committed to providing sustainable solutions to businesses in the state. We are aware of the challenges that businesses are facing, and we are working to provide them with the support they need to succeed. We urge businesses to take advantage of the available facilities and to work with us to build a resilient economy.”
He urged businesses to take advantage of the available facilities and to work with the government to build a resilient economy.
Uwaibi also said that businesses in Edo State can contact ESIPO via email: invest@edostate.gov.ng
to find more information about the government’s support programs for businesses.
