Akwa Ibom Governor Launches 4th Entrepreneurship Accelerator Programme, N500,000 Grants for 500 Entrepreneurs

The Akwa Ibom State Governor, Pastor Umo Eno, has launched the fourth cohort of the Entrepreneurship Accelerator Programme (EAP), reaffirming his administration’s commitment to empowering small business owners and promoting sustainable job creation under the ARISE Agenda.

The event, held at the IBOM-LED Complex in Uyo, marked another milestone in the state’s efforts to strengthen entrepreneurship and support innovation-driven enterprises.

N500,000 Grants for Business Growth

Governor Eno announced that 500 entrepreneurs will each receive ₦500,000 in startup grants to either kick-start or expand their businesses. He urged beneficiaries to use the funds wisely, stressing that discipline and proper financial management are vital for long-term success.

“You are in a state that not only trains you as entrepreneurs but also provides startup capital to support your journey. ₦500,000 may look small, but with focus and determination, it can transform your life,” he said.

Training and Mentorship for Entrepreneurs

The programme offers a 10-week intensive training designed to equip participants with practical business skills. Governor Eno highlighted that Ibom LED would provide continuous mentorship to ensure participants apply the funds effectively and build sustainable ventures.

Sharing his personal story, the governor recalled starting with a small five-room hotel, which grew over time into the Royalty Group—a testimony that businesses can succeed from humble beginnings when managed with discipline and persistence.

Financial Prudence Driving Development

Governor Eno emphasized that Akwa Ibom has operated for over two years without borrowing, thanks to prudent financial management. This has enabled the state to invest in projects such as the Entrepreneurship Accelerator Programme and the Dakkada Skills Acquisition Centre (DASAC), both designed to tackle unemployment and stimulate economic growth.

Expansion of Business Support Structures

Earlier, Mr. Ime Uwah, Senior Special Assistant to the Governor on Entrepreneurial Development and Director-General of Ibom LED, noted that the EAP has trained over 1,200 entrepreneurs, with an additional 500 beneficiaries joining in the fourth phase.

He also announced the formation of the Akwa Ibom Entrepreneurs Association, a platform to strengthen collaboration among business owners in the state. Governor Eno pledged a ₦10 million grant to support the association’s activities and tasked its leaders to register at least 10,000 entrepreneurs across the state.

Empowerment Centres Driving Innovation

In his remarks, Pastor ImoAbasi Jacob, Team Lead of Ibom LED and Managing Director of the Akwa Ibom Investment Corporation (AKICORP), praised the transformation of the Ibom e-Library into a modern business training hub. He highlighted the alumni network as a strong pillar for mentorship and peer learning.

Prof. Enoidem Usoroh, Rector of DASAC, also applauded the governor’s decision to integrate graduates from his institution into the programme, describing it as a catalyst for skill development and employment opportunities.

Building the Next Generation of Entrepreneurs

The inauguration ended with Governor Eno charging participants to embrace the spirit of hard work, innovation, and accountability. He reaffirmed that entrepreneurship is central to wealth creation, poverty reduction, and the future of Akwa Ibom State.