UYOCCIMA BOSS DECRIES CAPITAL FLIGHT TO ABA
The Chairman, Uyo Chamber of Commerce, Industry, Mines and Agriculture (UYOCCIMA), Obong Nseyen Ebong laments over the level of capital-flight from Akwa Ibom State to Aba and other Igbo areas; deeming it fit, as a matter of urgency, to boost Small and Medium Scale Enterprises to curtail the economic effect.
He laid bare the claims Thursday when the Conference of Online Publishers Akwa Ibom engaged the new Chairman of UYOCCIMA following his emergence as the new President of the organization.
Further on, the former Rector of Maritime Academy, Obong Ebong said the state’s revenue does not stay to generate more revenue in the state rather it is on economic flight to Aba.
“Even in Uyo here, 90% of the businesses here are owned by our Igbo brothers. So, the position of UYOCCIMA is that we want to change that narrative.
“The money that comes into Akwa Ibom State does not stay in this State. It ends up in Aba and Onitsha. Look at the number of people that go to Aba to buy things for weddings, burials and other events,” Obong Nseyen Ebong, Chairman UYOCCIMA.
According to UYOCCIMA Boss, the body is poised to change the narrative of Akwa Ibom as a civil service state and empower women, youth by giving interest free loans. Also, it is to support the creation of more jobs in Akwa Ibom State and lessen the burden on government.
To achieve the above, UYOCCIMA said, collaborating with the Nigerian Export Promotion Council by registering over 1,500 new businesses and mentor them; encouraging women and youth to become successful entrepreneurs. This they have begun with the establishment of the women and youth groups which according to the UYOCCIMA Boss have already been taken up since last year.
He also acknowledged the fact that poor mentorship of mentees and misapplication of funds collected for businesses have remained major pitfalls for business growth.
“In most cases than more, the monies collected for business are misapplied. That’s why at the level of UYOCCIMA, we give a lot of attention to mentorship. Mentorship and discipline are critical factors in business,” Obong Nseyen Ebong stated.
However, the UYOCCIMA Chairman commended the Governor, Mr. Udom Emmanuel for the industrialization strides in the aspects of the Toothpick, Fertilizer, Syringe factories which in nearest future will stimulate and have a multiplication effect on the economy.
© Enwono-Abasi Elisha.