NSCCIMA Seeks N1bn Trust Fund to Spur Growth in Nsukka Economic Zone

Emmanuel Ugwu-Nwogo in Enugu

The Nsukka Chamber of Commerce, Industry, Mines, and Agriculture (NSCCIMA) has proposed the establishment of N1 billion Enterprise Development Programme Fund (EDPF) for stimulation of economic growth in the Nsukka Economic Zone, Enugu State.
President of NSCCIMA, Sam Otoboeze disclosed this during his address at the statewide townhall and stakeholders engagement of the Presidential Enabling Business Environment Council(PEBEC) held in Enugu.

He described Nsukka Economic Zone as “one of the commercially viable and strategically positioned growth corridors in Nigeria” hence the urgent need for “catalytic intervention” to develop the huge economic potentials of the zone.

“With the intellectual advantage of the University of Nigeria, Nsukka, extensive agricultural resources and a vibrant hoith population, Nsukka possesses enormous potential for agro-industrialisation, SME expansion, food processing, innovation-driven enterprises, and export-oriented production,” he said.

According to him, the proposed intervention fund, which should be managed by NSCCIMA, would be used to support SMEs, youth entrepreneurship, women-led enterprises, agro-processing cooperatives, and enterprise incubation initiatives within the Nsukka Economic Zone.
Otoboeze stated that a conservative projection indicates that within the first 12 months, the Fund would be able to support between 1,200 and 1,500 SMEs and small traders, and empower over 1,000 youth and women enterprises.

Within the same period, the Fund would also generate between 2,500 and 3,500 direct jobs, stimulate 7,000 to 10,000 indirect economic opportunities, strengthen agro-processing and rural production value chains, and enhance youth economic engagement and community stability.
The NSCCIMA President commended Governor Peter Mbah for the deliberate policy initiatives of his administration, which has improved the investment climate of Enugu State as well as “laying the foundation for inclusive economic growth and long-term enterprise sustainability across the state”.