The Benue State Government has given financial approval for the completion of the Central Bank of Nigeria’s Enterprise Development Centre for the North Central region which has so far trained over 4,000 entrepreneurs.
The approval which was done at the Executive Council meeting Chaired by Governor Samuel Ortom, was in response to the growing demands of youths and women seeking empowerment through Small and Medium Scale Enterprises (SMEs).
The CBN Enterprise Development Centre which would be handed over to the state government in 2018 to continue the growth and expansion of SME businesses in the state, organises an induction programme and exhibition on how to access funding for SME growth.
Some of the participants at the exhibition highlighted funding and machinery as major challenges for growing SMEs.
Governor Ortom, who was represented by Tersoo Kpelai, said that the World Bank has agreed to create a market structure for locally made goods from Benue State.
Report says that the impact and contributions of SMEs to the state’s economy stands at 50% of the total amount of the state’s Internally Generated Revenue.
