AEA disburses N195m to 800 MSMEs in FCT

By Hafsat Hayatudeen

The Abuja Enterprise Agency (AEA) has disbursed N195 million to 800 Micro, Small and Medium Enterprises (MSMEs) in the FCT.

While disbursing the funds to some of the beneficiaries on Friday, the acting Managing Director of AEA, Mallam Shehu Abdulkadir, said the AEA FCT CARES project was focused on supporting MSMEs to recover from the COVID-19 pandemic.

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He said, “We have disbursed the grant in three folds today, which include the credit grant, operational grant and the technology enhancement grant. 

“Today, we are disbursing N195m to 800 MSMEs. It’s a two-year World Bank project in which a $3.5m grant would be given to over 3,000 MSMEs in the FCT. We are giving the first batch today. “

The Chairman of the FCT CARES Steering Committee, Mr Agboola Lukeman Dabiri, said the programme was designed to support MSMEs through cash transfer, provision of basic services through community development, food security by support for farmers with agricultural inputs and supporting viable enterprises.

A beneficiary from Abaji Area Council, Joy Haruna, said, “I am very happy for this N100,000 grant from AEA. I have a restaurant, and with this money, I am going to expand my business and we will grow bigger.”

The Chairman of Abaji Area Council, Abukakar Umar Abdullahi, said with the grant, AEA had been able to reach MSMEs in the six area councils of the FCT.