Rivers Speaker Doles Out N10m to Boost SMEs, Agriculture for Constituents, Experts React

In a bid to boost small and medium scale enterprises and investments in Agriculture in his constituency, the Speaker of the Rivers State House of Assembly, Victor Oko-Jumbo has doled out a whopping N10 million to be distributed as grants.

Oko-Jumbo, who represents Bonny Constituency in the State House of Assembly, in a statement on Saturday, June 22, 2024 by his Special Assistant on Media, Stephen Banigo, said the funds are for disbursement to Agricultural Farmers and Small/Medium Scale Enterprises (SMEs) in Bonny Local Government Area of the State.  

The statement said that the initiative is a demonstration of his “commitment to positively impact the local economy of Bonny LGA to yet another blazing level with the release of the fund”.  

“The intervention, which is ultimately intended to cushion the effect of the biting economic situation in the country, is the 5th in the series of economic stimulus programs of the Speaker for his constituents now cumulatively running above twenty-five million naira in less than a year.”

He named two committees for the screening and disbursement of the grants.

The Agricultural Committee has Hector Wilcox; Chairman, Ene Longjohn; Co-Chairman, Miriam Hart; Secretary, and Edith Hart, Madam Funke, Adata Bristol and Tammy Oko-Jumbo as members.  

The SME Committee has Christaben Frank-Hart; Chairman, Adonye Wilcox; Co-Chairman, Christopher Allaputa; Secretary, and Fyne Tobin, Henry Jumbo, Atemie Hart and George Jumbo as members.

The Speaker charged the two committees to ensure that only deserving beneficiaries are captured in the exercise, while directing them to commence work immediately.

Reacting to the development, the President of the Bonny Chamber of Commerce, Industry, Mines and Agriculture, Constance Nwokejiobi hailed the initiative as a “good development”, noting, however, that the Bonny Chamber was yet to be briefed of the gesture, encouraging greater synergy with the organized private sector.

In his reaction, the branch manager of one of the new generation banks in Bonny Island, who preferred anonymity, lauded Oko-Jumbo’s gesture, pointing out that the initiative is a welcome development, while advising the Speaker to consider utilizing the commercial banks in managing such processes for maximum benefit to the society.

He noted that though Bonny Island lacks the real sector such as manufacturing, it is populated by commercial exchange businesses and as such need stimulus such as this grant to boost the gross domestic product (GDP) and micro-economic indices of Bonny Island, adding that the gesture would encourage more people to engage in commercial activities.   

A former banker turned farmer, Felicia Abbey, in a virtual interview commended Rt. Hon. Victor Oko-Jumbo for the gesture, saying the fund if properly utilized would be advantageous to the business community in Bonny LGA.

“It is one of the best things that has ever happened to us in Bonny here. At least, so many of us that are into small business, I think the fund will go a long way for us.”