Demolition: Southeast entrepreneurs plan home relocation of investments

— Earmarks ₦50bn MSME Fund to reappraisal Igbo apprenticeship scheme

— Warn against governmental balkanization

— Hold economical acme successful Enugu

By Johnbosco Agbakwuru

ABUJA—IN what appears to beryllium a wake-up call, the ongoing demolition of buildings successful Lagos State whitethorn person provoked immoderate Igbo leaders and entrepreneurs of Igbo extraction to statesman to deliberation of investing successful the South East.

Already immoderate industrialists person assembled ₦50 cardinal Micro, Small and Medium Enterprises, MSME Fund to resuscitate the Igbo apprenticeship scheme.

Speaking astatine a roadworthy show/townhall gathering with the theme: “Remaking South East arsenic Economic Power House,” the Executive Secretary of the South East Business and Investment Summit, SIBES, Dr. Ifedi Okwenna, said with what was happening successful Lagos, it was a precocious clip for Ndigbo to put astatine home.

He said SIBES has packaged bankable projects worthy betwixt ₦100 and ₦200 cardinal successful thematic areas specified arsenic agriculture, ranching, energy, and originative arts, designed to pull associated ventures and boost determination accumulation and export capacity.

Dr. Okwenna, explained that the motorboat of a ₦50 cardinal MSME money dedicated to revitalizing tiny businesses successful the South East, targeting younker and women entrepreneurs.

He said the money aims to accelerate economical stableness by supporting the resuscitation of the accepted Igbo apprenticeship scheme, which has declined owed to changing younker attitudes toward semipermanent mentorship.

The SIBES Executive Secretary described the upcoming acme successful Enugu arsenic a pivotal measurement to realign concern absorption wrong the South East, fostering determination improvement and integration portion besides preparing for large infrastructure projects similar the Southeastern obstruction line.

He said: “We are launching a 50 cardinal Naira MSME fund, which is going to beryllium launched on  26th. That MSME money is simply a money we privation to enactment aside, a dedicated money to re-energise the MSMEs successful the South East.

“You realise that we are the hub of MSMEs, and we are not doing good again. The Igbo Apprenticeship Scheme, which progressive that MSME, is dying. And due to the fact that that is dying, what bash we request to do? We request to enactment an accelerator, truthful that if you spell larn business, larn trade, larn accumulation successful a tiny standard and you don’t person the moving capital, you get into the MSME fund.

“And determination is simply a fintech we are attached to, there’s a microfinance slope that volition show and dispose the fund. So that is connected 1 side, that 1 is meant to accelerate economical stableness and past societal Security for the young. It’s chiefly for the younker and women.  

“Then we are talking of the bankable projects which we person already packaged. Now those is betwixt 100 cardinal to 200 billion, due to the fact that we took astir 8 thematic areas, which we studied. We did feasibility studies, worked the concern plan, breakeven point, everything, truthful that it volition beryllium casual for associated ventures to beryllium formed. And then, cardinal projects similar ranching, we privation to springiness nutrient to produce.

“Because aft Lagos, were are the largest user of beef, truthful we privation to person our ain ranches crossed the South East, we person to nutrient nutrient factories, truthful that you tin springiness yourself meat.

“Then we privation to person an agro hub. We are already moving with the larboard terminal, truthful that we tin person an agro hub for export.

“Then equally, we are looking astatine power, we are looking astatine energy, we are looking astatine security, we are looking astatine sports, originative arts. So these are small, small, low-hanging effect we privation to start. We telephone it low-hanging fruit.

“We are coming to the 2nd phase, aft 5 years. The 2nd signifier is erstwhile we commencement talking astir the obstruction line, the South Eastern obstruction line, which is already being worked out. That volition nexus to the national line.”

Also speaking, a erstwhile PDP National Chairman Chief Okwesilieze Nwodo reminisced astir the vibrant concern and economical improvement of the Southeast portion during the pre-civil warfare era, crediting visionary leaders and entrepreneurs for creating the fastest-growing system successful the satellite astatine that time.

He highlighted the concern corrid...