Otti launches N306m initiative to support businesses through technology funding

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The Abia State Governor, Alex Otti, on Monday, launched a ₦306 million tech-enabling business grant called NKATA to support businesses across all the 17 LGAs of the state.

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Speaking while receiving the management team of the Abia State Technology Skills Acquisition Centre, and while unveiling the project, Otti reaffirmed his administration’s commitment to empowering entrepreneurs and creating sustainable economic opportunities for the youths of the State.

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He said the initiative was deliberately designed to accommodate different categories of beneficiaries across the state, ensuring inclusiveness and broader access to economic opportunities.

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While noting that a total of ₦306 million has been earmarked for the beneficiaries, he maintained that they must meet the requirements to benefit from the project and expressed his hope that the intervention will yield positive results.

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“I want to congratulate everyone. The ₦306 million is available, but beneficiaries must meet all the necessary conditions. In a few months’ time, I want to hear that this intervention has yielded results, not just in monetary terms, but in job creation, poverty reduction, and empowerment of our people,” he stated

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The governor stated that the programme aligns with his administration’s vision of building a productive, self-reliant and innovation-driven economy, pointing out that the government has gone back and forth on the issue and is now convinced that it would help support the youths.

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He explained that his administration deliberately chose to invest in productive ventures capable of generating long-term economic value instead of funding mere consumption, adding, “We have gone forth and back on this, and we are convinced that this is one of the ways to support and help our people”.

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“The easiest way to spend money is to give it to people who consume it, but we will receive value when it is invested, and that investment will yield returns. This is our own way of intervening,” Governor Otti said.

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The governor further disclosed that the grant project forms part of the broader economic empowerment initiatives of his administration, aimed at equipping Abians with relevant skills and support to become self-reliant and employers of labour.

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The goal, he said, is to support and train Abia people so that they can become self-reliant and employers of their own, and urged them to utilise the opportunity responsibly by expanding their businesses, creating jobs and contributing meaningfully to the economic growth and development of Abia State.

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Presenting the project earlier, the Director-General, Abia State Technological Skills Acquisition Centre, ATSAC Mr Peter Ukonu, described the programme as a strategic intervention aimed at supporting businesses, reducing poverty and creating employment opportunities across the State.

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He explains that the NKATA, which adopts a different structure by deploying support through technology providers, rather than giving cash, was deliberately designed to ensure that technology resources are utilised for business expansion and productivity rather than diverted to other personal expenditures.

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