Akwa Ibom Disburses ₦2 Billion To 3,496 Traders, Plans Major Market Expansion
By ARIT OTONG UBOK
THE Akwa Ibom State Government has disbursed more than ₦2 billion to 3,496 traders across the state’s 31 local government areas as part of efforts to strengthen small businesses and stimulate economic activities.
The Commissioner for Trade and Investment, Captain Inionong Ekong (rtd.), disclosed this during the 12th edition of the state government’s Inter-Ministerial Briefing in Uyo. He explained that the Traders’ Grant Programme provides financial support for traders to restock, expand their businesses and sustain commercial operations.
However, Ekong clarified that the ₦2 billion grant is separate from the ₦31 billion economic empowerment programme provided for in the 2026 budget. That broader initiative targets women, youths, farmers, transport operators and small-scale business owners.
According to the commissioner, the government is adopting a data-driven process to identify beneficiaries and promote transparency. He also warned that the administration would not tolerate fraudulent practices in the distribution of empowerment funds.
Beyond direct financial assistance, the government is investing in commercial infrastructure to improve the state’s business environment. Ekong identified the ongoing Ikot Ekpene International Market project as a major initiative expected to expand trading opportunities, create jobs and strengthen the state’s commercial position.
He said the first phase would provide 1,200 shops across 30 modern blocks. The facilities would also include warehouses, administrative offices, security posts, dedicated electricity supply, borehole water, cold rooms, a modern abattoir and two restaurants.
With these facilities, the market is expected to improve trading conditions for merchants and farmers. Furthermore, it could strengthen agricultural value chains, attract private investment and position Ikot Ekpene as a major commercial and logistics centre in the South-South region.
Meanwhile, the ministry is planning three agro-processing industrial clusters in Ikot Ekpene, Eket and Oron. It is also developing an investment roadmap, an online investment portal and fully operational one-stop investment centres to make the state more attractive to investors.
Ekong added that the ministry was implementing business-enabling reforms under the World Bank-supported State Action on Business Enabling Reforms (SABER) programme. In addition, it is collaborating with the Nigerian Export Promotion Council to improve local exporters’ capacity and access to regional and international markets.
The state is also preparing to host its first non-oil export summit. According to the commissioner, implementation of the investment roadmap is expected to begin in the first quarter of 2027.
