Abia Revives Garment Industry, Commits ₦10bn for Soft Loans to Entrepreneurs

The State Government has committed over 10 billion naira with the Bank of Industry to help and assist small and medium-scale entrepreneurs, especially in the garment industry, to enable them to secure soft loans to boost their businesses.

The Special Adviser to the Governor on Investment Promotion and Public Private Partnership, High Chief Green-Amakwe, who disclosed this during a BCA phone-in program, says the present administration has been intentional and willing in supporting its citizens, especially the young people, with a view to helping them engage in meaningful activities and, as such, reduce criminality to its barest minimum.

High Chief Green-Amakwe hinted that the garment industry in Aba has been known over the years beyond Nigeria and Africa and government is ensuring that they maintain the lead when it comes to fashion, garment and textile, pointing out that Enyimba garment factory, which was moribund before the present administration came on board, has been revived and is now in full production of fabrics in large quantities and good quality.

He pointed out that what could have been major challenges facing garment production in Aba had been adequately looked into, including regular power supply, improved security network and access to soft loans, among others and used the medium to call on young people to embrace investment and skills acquisition to enable them succeed.

Our correspondent Chioma Rich Ufomadu reports that on the issue of public-private partnership, he disclosed that individuals and corporate bodies are willing to invest in the garment business and that government is looking into strategies and modalities to bring them on board to create more jobs for the state.

The Special Adviser harped on the need for individuals who are interested in the soft loans from the Bank of Industry to visit their banks for further directives or the Ministry of Industry and SMEs, pointing out that the interest rate is below 10%.

He added that Afrocentric Training Institute has been training young people in tailoring and fashion designing and assured that Abia is open for investment, considering the level of security, infrastructure and enabling environment.