Anambra begins N2bn SMEs loan disbursement



Governor Willie Obiano has said that small business owners in Anambra state now have cause to cheer as he has inaugurated the Anambra Small Business Agency (ASBA) and the commencement of the disbursement of the N2billion Micro, Small and Medium Enterprises Development(MSMEs)Development Fund.

The fund, according to the governor was the state’s quota of the N220bn MSMEs fund domiciled with the Central Bank of Nigeria by the Federal Government.

He observed that lack of funding was discovered to have been the bane of small businesses but will change with the availability of the MSMEs Development Fund which can be accessed by serious/committed private enterprise operators.

According to the governor, “I am happy that the scheme has taken off in earnest because we worked hard to ensure that we meet the relevant statutory requirement and set up ASBA to superintend over small business activities.

Micro Small and Medium Enterprises constitute the major drivers of my administration’s vision to engender aggressive economic growth and touch the lives of the average citizen of the state positively. I have no doubt that their fortunes will turn around for good and that the local economy will feel the positive impact in no distant time.”

He described the exercise as a consummation of his efforts since the inception of his government, to devise a means of directly engaging the MSMEs subsector in the task of growing the state GDP and creating employment and wealth opportunities for the people.

He charged the staff and management of ASBA to ensure effective implementation such that all bottlenecks militating against easy access to such intervention by SMMEs and to establish the state as the hub of SME empowerment in the country, as well as proper monitoring of beneficiaries and recovery of the funds.

The Fund is divided into two with N1bn is being disbursed to Micro enterprises and the other to small and medium scale enterprises at an interest rate of nine percent. In line with the CBN guidelines, direct beneficiaries anchored by the Commercial Banks selected under the small and Medium Enterprises sector are to access up to a maximum of 50 million naira while those processed by Microfinance Banks under the Micro enterprises will not be able to access any amount exceeding 5 million naira.

Chairman of the Board of ASBA, Mr. Greg Obi attributed lack of access to funds to stringent loan conditions which are stumbling blocks to SMEs’ development in the country. He praised the interest of the governor in helping CASBA meet the conditions to attract the State’s share of the 220 billion naira Development Fund, as a demonstration of genuine commitment towards assisting the subsector to thrive in the State.

The Managing Director of the Agency, Mr. Clem Chukwuka said they engaged the participating financial institutions earlier in the year in line with their mandate to ensure that beneficiaries of the fund are small businesses with proven integrity and capability of generating employment and wealth.

A representative of the beneficiaries, Mr. Akai Egwuonwu said the funds is timely as it will complement their efforts in supporting the governor’s vision in the Agricultural sector and promised to utilize the fund properly.

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1 Comment
  • Nwarienne P.J.


    Nigeria is one of the most blessed countries in the world. The problem
    is spiritual wickedness of its people. People that sold their fellow
    brothers in exchange for
    anything into slavery for centuries to the West and East Indices,
    Americas, Europe, Middle east, and Asian countries.
    They prefer to give and serve the white man than to do same to their fellow blacks. I
    am lettered in history. The middle men of the Slave coast; from
    Eko-Badagry to Creek town Calabar; [Nigeria] started the trans-Atlantic
    stage it with the Europeans in mid 16th century, later with the
    American settlers. There were hundreds of savage and modern wars before
    the annexation of the colonies of Lagos and Calabar in late 19th
    century. Later the protectorate on the north and south and its
    amalgamation in 1914. John Becroft fought Oba Kosoko of Eko and King
    Jaja of Opobo, these two were captured and deported to the Barbados
    Island in the West Indice {Caribbean Islands} also Nana of Itsekiri and
    Oba Ovaremi of Benin were dealt with, all to stop with force the
    illegitimate trade in human beings. When Lord Lugard fought Ahmadu Bello
    at Kaduna it was for ruler-ship over the emirates.
    To cut a very long
    story short I would rather advise Nigerian to see beyond their nose,
    and learn to help keep a country that took centuries of unrecorded and
    recorded wars and anarchy to build.
    Whatever is your gift is what God
    will use to bless others. What is your gift? Giving offer us the
    opportunity to restore our destiny – your love, wisdom, time and money
    does it all and there will be peace and joy for every one. God is found
    of revealing weakness before [they] begin to destroy. I have a personal
    idea that can make this country very successful. Check it out, print,
    copy and paste.


    Appeal for funding my publication of a revolutionary book on agriculture
    titled, “Agricultural Orientation for Nigerian Youths,” Vol. one;
    By Joseph-Paul Nwarienne.

    I have just finished writing a revolutionary manuscript on agriculture title “Agricultural
    Orientation for Nigerian Youths”, volume 1; Food Crops. The format is as follows;-
    [a] The preface.
    [b] Acknowledgments.
    [c] 6 parts.
    [d] 27 chapters.
    [e] 44 references.
    [f] 11 illustrations.
    the chapters have between 3-9 sub-chapters that deal on specified crop
    analysis in sequences that I deemed not necessary to classify hereon.

    Part 1: Introduction:- 3 chapters. 1. Farm Management. 2. Factors influencing the present
    situation of food production in Nigeria. 3. The socioeconomic aspect of agricultural schemes to
    increase food production in Nigeria.

    Part 2: Agronomy:- 6 chapters. 1. The plant crop. 2. Land preparation. 3. Soil and plant
    nutrients. 4. Weeds control. 5. Propagation techniques. 6. Disease and pest control.

    Part 3: Root crops:- 4 chapters. 1.Cassava. 2.Yam. 3.Sweet potatoes. 4.Coco-yam.

    Part 4: Cereal-crops:- 4 chapters. 1.Rice. 2.Wheat. 3.Maize. 4.Guinea-corn

    Part 5: Legume and Fruit crops:- 6 chapters. 1.Groundnut. 2.Cow-pea. 3.Plantain. 4.Pineapple. 5.Orange. 6.Paw-paw.

    Part 6: Vegetable crops:- 4 chapters. 1.Garbage. 2. Tomatoes. 3.Onion. 4.Pepper.

    Like I said earlier, each of the chapters have sub-chapters in sequences,
    eg., Part 3:- chapter 12. Sweet Potatoes [Impomoea batatas].
    12.1. Importance.
    12.1.1. Fresh tuber utility.
    12.1.2. Processed tuber utility.
    12.2. Botany of the crop.
    12.3. Propagation technique.
    12.4. Maintenance.
    12.5. Harvest and storage.
    12.6. Disease and pest control.

    study and researched vocational agriculture at Isulo, Igbariam, and
    Adani farm settlements. I graduated with NCE., from school of arts and
    social sciences,
    department of Geography/History, Nwafor Orizu College of Education
    Nsugbe, Anambra state, Nigeria. Reg.No.2007/8680.

    I classified this script such as none had ventured. I hereby beg this organization for funds
    to enable me publish and print the manuscript 1st edition of vol.1. I am a
    prolific writer that needs sponsoring to publish. The manuscript is 26,
    431 words, 44 references and, 11 illustrations.

    For two years I have been trying to no avail to secure agric loan to establish a
    cocoa/cassava plantation with one of my new companies, AGRO SEEDS
    INDUSTRIES. I want a sponsor pilot farms for my company to teach youths
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    agriculture using my book ‘Agricultural orientation for Nigerian youths,
    vol.1, food-crops,’ a basic of the agricultural orientation series. We
    want to partner with you to make ATA of Nigeria a reality in practice.

    I uploaded a software version of the unpublished manuscript to Dorrance
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    state and in the process establishing agric vocation centers in

    I hereby appeal to the to use your discretion via your
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    The book will be instrumentally pivotal and like Gorge Orwell’s ‘ANIMAL
    FARM’ of 1947, and Karl Marx’s ‘CAPITAL’ of 1867 revolutionary
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    business than meet the eyes of the teaming youths of Nigeria.

    Joseph-Paul Nwarienne


    Bank: Diamond bank plc:-
    A/C Name: Nwarienne Joseph
    A/C No: 0049017824

    Bank: Fidelity Bank Plc:-
    A/C No: 5600132088

    Below is except from a correspondence with a publishing company; Dorrance
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    Joseph-Paul Nwarienne

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    Book Promotion

    A specific amount of your publishing services fee will be used to promote
    Agricultural Orientation for Nigeria: Volume One: Food Crops with
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    • Creating a listing at our media site,,
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    David Zeolla