In a bid to boost the local economy in Bonny Island, Chairman of the LGA, Dame Anengi Claude-Wilcox has begun disbursing grants to small and medium scale enterprises (SMEs).

A statement by her Deputy Press Secretary, Boma Waribor, announced that Dame Wilcox kicked off the disbursement of the grants on Tuesday, August 1, 2023 during a tour around the Island where she met the first batch of beneficiaries at their business places.

She disclosed that the business grant was in fulfilment of her birthday promise earlier this year, tasking them on prudent management of the funds received, urging them to integrate principles that would ensure the sustenance and upscale of their respective businesses.

Announcing what she termed “the good news of the financial grant” to the respective beneficiaries, the Bonny LG boss said their nomination was determined through a needs assessment process, adding that it was not a free-token but a package intended to help scale up their respective businesses to the next level.

The beneficiaries, some of whom got N500,000, N300,000, and N200,000, respectively, include Ibifiri Daniel Hart (Sandfield), Margaret Morrison (Agaja), Boma Abbey (Water-Well 3), Hannah Bluejack (Akiama), Nengi Pollyn (Water-Well 3), and Gladys Emmanuel (Ogogoama).

In their respective responses, the beneficiaries described the gesture as unexpected, expressing their appreciation to the Bonny LGA Chairman for her effort in improving their businesses.

They all pledged to remain steadfast while working for continuous business growth in the interest of economy of the LGA.

Dame Anengi Claude-Wilcox was accompanied on the tour by the Councillor representing Ward 10 in the Bonny Legislative Assembly, Kingsley Jumbo, Secretary to the Bonny LG Council, Ralph Jamaica, her Chief of Staff, Austin Pepple, and a retinue of her aides.

Close watchers of the unfolding scenario view this latest move by the Bonny LGA Chairman as an apt response to concerns being raised in different quarters on the need to provide some fillip to businesses in the area, targeting SMEs.

With the coming of the Nigeria LNG Train 7 project in the island, there has been a spike in demand for various services from food supplies to transportation to dressmaking and several others.

Unfortunately, the local economy has been incapable of rising to this demand due to lack of startup capital, lack of business mentorship, turbulent public policies, unfavourable tax regimes and poverty in the land.

A business analyst, who preferred anonymity, gave thumbs up to the Bonny LG Chairman’s economic team for contriving such fortuitous empowerment initiative, enjoining her and he team to also consider business management seminars to educate these business owners on the imperatives of success in business.

She was positive that this process would change the narrative of SMEs in the area and jumpstart their capacity to respond to economic needs of the people of the area in the long run and in a sustainable way.