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The Governor of Rivers state, Chibuike Amaechi has announced that the state government has floated the N5 billion Small and Medium Enterprises fund to drive innovation and entrepreneurship amongst the people of the state.

The fund he explained will be managed by independent bodies and will not be restricted to indigents alone.

He made this known at the opening of a two-day Wealth Creation and Poverty Reduction Summit organized by the Rivers State Office of the New Partnership for Africa Development (NEPAD) and Rivers State Sustainable Development Agency (RSSDA) in Port Harcourt, the state capital.

Noting that the old way of sharing money to people as empowerment strategy stifles sustainable wealth creation and empowerment of the people, the governor said his administration will rather provide a conducive environment for businesses to thrive in order to create employment and development.

He also disclosed that the major focus of his government will be in the areas of health, education, power and agriculture, as he condemned politicians who assume leadership positions without having a vision.

Rivers Float N5billion SME Fund