By Solomon OKPO
Akwa Ibom State Governor, Pastor Umo Eno, on Thursday declared open the 2025 National Conference of the Association of Microfinance Banks (NAMB), held in Uyo, the State capital. The event, which marks the 20th anniversary of microfinance banking in Nigeria, had as its theme “Microfinance Banking: Bridging the Past, Empowering a Sustainable Future for Economic Development.”
Governor Eno, who was represented by the Commissioner for Finance, Mr. Emem Almond Bob, congratulated the Association on two decades of impactful service to Nigeria’s financial ecosystem. He commended NAMB for its role in deepening financial inclusion and driving entrepreneurship, particularly among low-income earners and small business operators.
He noted that the conference theme aligns with his administration’s vision of empowering small and medium-scale enterprises (SMEs) through grants and soft loans. According to him, the Akwa Ibom State Government has disbursed over ₦15 billion in business, agricultural, and market grants, as well as through youth empowerment initiatives facilitated by the Ibom Leadership and Entrepreneurial Development Centre (Ibom-LED), which has trained over 2,000 young people.
“The present administration, through the ARISE Agenda, is deliberate in stimulating microfinance growth in the State,” he said. “We have established the Ibom Fadama Microfinance Bank to support entrepreneurial development and manage operational costs of State MDAs through the bank.”
Governor Eno further highlighted that the State utilized 11 microfinance banks to channel the ₦2 billion Micro, Small, and Medium Enterprise Development Fund to beneficiaries across Akwa Ibom. He emphasized that microfinance institutions remain key to achieving financial inclusion, empowering small businesses, and providing capacity-building opportunities for sustainable economic growth.
He urged microfinance operators to embrace digitalization, ensure institutional sustainability, and strengthen partnerships with government and private stakeholders to expand their impact.
In recognition of his administration’s support for microfinance development, Governor Eno was honored with the “Pillar of Microfinance Banks in Nigeria” award by the Association. In his response, he reiterated the government’s commitment to supporting SMEs, disclosing that a ₦2 billion matching fund has been set up with the Bank of Industry (BoI) to enable entrepreneurs access loans at single-digit interest rates.
“Our focus on growing SMEs stems from the understanding that they are the engine of economic growth and prosperity across the world,” he stated.
In his welcome address, the National President of NAMB, Alhaji Abubakar Ahmed, expressed appreciation to the Akwa Ibom State Government for hosting the landmark event and lauded the city of Uyo for its hospitality and conducive environment. He described the 20th anniversary as an opportunity for the association to reflect on its achievements, assess its current progress, and chart a course for the future.
The Governor of the Central Bank of Nigeria, Dr. Yemi Cardoso, represented by a top official of the apex bank, delivered the keynote address, underscoring the critical role of microfinance in strengthening Nigeria’s economy.
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