The United Nations Development Programme (UNDP) has allocated a support fund of N200 million to aid Micro, Small, and Medium Enterprises (MSMEs) in Bayelsa State, aiming to alleviate the prevalent socio-economic challenges encountered by businesses in the region.
During a presentation ceremony at the Government House in Yenagoa, Joyce Oboro, leader of the UNDP delegation, elucidated the goals of the initiative, which is co-funded by the European Union. She stressed the significance of empowering medium and small-scale enterprises across diverse sectors through financial assistance and capacity enhancement, with a particular emphasis on employing a cluster-based strategy to achieve outlined objectives.
Oboro expressed optimism that the project would invigorate economic expansion and uplift the living standards of Bayelsans, urging the support of benevolent organizations and individuals for the endeavor.
In response, Governor Douye Diri acknowledged the collaboration between the government and UNDP in fostering the growth of MSMEs in the state. He lauded the organization for its assistance during the 2022 flood crisis, recognizing UNDP as a steadfast ally of Bayelsa State.
Diri underscored his administration’s initiatives in nurturing and supporting MSMEs, including training programs and monthly grants of N200,000 to 420 small-scale business proprietors across the state’s 105 wards. He reiterated the government’s dedication to collaborating with UNDP to ensure the project’s success and enhance the welfare of Bayelsans.
The governor emphasized the paramount importance of capacity building, training, and mentorship in nurturing small enterprises, stressing the imperative of prioritizing human capital development alongside infrastructure improvement.
Diri expressed confidence that the partnership with UNDP would bring relief to the populace of Bayelsa State, underscoring the administration’s commitment to fostering inclusive prosperity and bolstering local support.
