The Director-General of the Small and Medium Enterprises Development Agency (SMEDA) and State Focal Person for the Ease of Doing Business Council, Dr. Stephen Odo, has stated that Ebonyi State being one of the safest States in South East geopolitical zone, was attracting investors, for the economic development of the State.
He added that the State under the leadership of Governor Francis Ogbonna Nwifuru had rolled out critical reforms and policy innovations to create a more business-friendly environment, with special focus on supporting Micro, Small, and Medium Enterprises (MSMEs) and attracting both national and foreign investors to the State.
Ebonyi remains one of the safest states in the Southeast,” he said. “You can drive around at any hour without fear of harassment or kidnapping. That’s a strong selling point for attracting investment.”
Briefing newsmen in Abakaliki, Odo pointed out his Agency “encourages the growth of enterprises, support businesses, and ensures that the MSME sector enjoys positive influence from government to survive and thrive.”
The Ease of Doing Business Council, chaired by the Deputy Governor, works closely with the Presidential Enabling Business Environment Council (PEBEC) to address bottlenecks that hinder business operations. The Members include, key Commissioners and Heads of Agencies responsible for Finance, Commerce, ICT, and Justice.
Explaining the concept, the DG said: “Ease of doing business simply means making it easier for businesses to thrive from access to credit, friendly tax regimes, and reliable power supply, to clear land administration processes and effective grievance redress mechanisms.
“Among the reforms introduced in the last two years were eight executive orders on: Public-Private Partnerships, PPP, investment promotion, grievance redress, creation of Small Claims Courts in Afikpo, Onueke, and Abakaliki to handle debt cases of up to ₦10 million, without the need for a Lawyer, with a three-month disposal time.
“Amendment of Revenue laws to address complaints on taxation and make tax administration seamless. ₦1 billion loan facility from the Bank of Industry, BOI, for MSMEs, in addition to World Bank-supported grants and financial aid to thousands of small businesses. Free CAC registration and export licenses for qualifying businesses to boost export-oriented production.”
Other economic initiatives by the present administration, according to Odo include: the “From Street to Shop” scheme, which disbursed ₦2 million each to 500 beneficiaries, and Agricultural training for Ebonyians in Enugu with financial support upon completion.
The DG who noted that Ebonyi was currently ranking 23rd nationally on the Ease of Doing Business Index, added that the government was determined to set new records by sustaining reforms and ensuring security for investors in the State.
He called on business owners at all levels to come to his Agency and key Into the economic reform agenda of the present administration in the State.
