Rivers State Governor, Sir Siminalayi Fubara, has continued to demonstrate his administration’s commitment to economic growth and grassroots empowerment with a ₦5 billion intervention targeted at Micro, Small and Medium-Scale Enterprises (MSMEs) across the state.
In May 2024, the Governor empowered 3,066 MSMEs with a ₦4 billion soft loan under the ₦4 billion Matching Fund Loan Scheme, aimed at stimulating business activities, creating wealth, and supporting entrepreneurs in Rivers State.
The scheme was officially launched on May 3, 2024, at the Dr. Obi Wali International Conference Centre, Port Harcourt.
Implemented through the Rivers State Microfinance Agency (RIMA), the initiative ensured that the loans reached verified traders, artisans, startups and small business owners, enabling them to expand operations, increase productivity and create employment opportunities.
Further strengthening the programme, Governor Fubara approved an additional ₦1 billion recapitalization fund for RIMA in October 2024. The recapitalization was designed to expand access to affordable financing and allow more small businesses to benefit from the state’s MSME support framework.
The ₦5 billion intervention underscores the administration’s focus on inclusive economic development by investing directly in the people and strengthening the backbone of the state’s economy.
