News Column

Rivers to Raise N15 Billion Funds for SME's - Amaechi

July 31, 2014

Rivers Government is to raise N15 billion through the establishment of Equity Fund to provide loans for entrepreneurs in the State.

Gov. Rotimi Amaechi of Rivers disclosed this at the Rivers Entrepreneurs and Investment Forum in Port Harcourt on Thursday.

Amaechi, represented by Mr Chima Chinye, the State Commissioner for commerce and Industry, said the State Government would contribute N5billion to the fund every year for three years.

He said the money would be given out as loans to the entrepreneurs in the state to enable them to invest in their businesses.

According to him, almost all state government businesses/enterprises had collapsed, stressing that government had no business in running businesses.

He said it was the responsibility of government to fix the necessary infrastructure, create business-friendly environment and tax policies.

"Government has no business running business. That is why it sold Presidential Hotel and looking for who will buy Delta Hotel in Port Harcourt.

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Source: AllAfrica

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