Gov. Otu Presents ₦450m To 18 Calabar SPAR Fire Victims

CROSS RIVER, CALABAR – Eighteen businesses affected by the recent SPAR fire incident in Calabar have received ₦25 million each from the Cross River State Government, bringing the total financial intervention to ₦450 million.

Governor Bassey Edet Otu presented the cheques to the affected business owners on Monday at the Executive Chambers of the Governor’s Office in Calabar, saying the intervention was intended to help them rebuild their businesses and restore their livelihoods.

Otu said the fire incident was an unfortunate occurrence but stressed that the government’s response to people affected by such circumstances was critical.

“I know that accidents happen, and there is sometimes little that anybody can do about them. But the important thing is how we respond to such unfortunate situations,” the governor said.

He said his administration placed emphasis on supporting small businesses because of their contribution to the economy and the livelihoods of residents.

According to him, the financial support was designed to provide a lifeline for the affected businesses and assist their owners in returning to productive economic activity.

Otu also urged the beneficiaries to use the funds productively, stressing that the intervention should translate into sustainable livelihoods and the rebuilding of their businesses.

“It is important to mention at this point that the financial lifeline provided by Mr. President should be translated into productive lives and sustainable livelihoods,” he said.

The governor further assured the beneficiaries that they would continue to receive encouragement and support as they work towards stabilising and rebuilding their businesses.

He also encouraged entrepreneurs in the state to take advantage of government-supported business advisory services, soft loans and grants available through the ministry responsible for financing and enterprise development.

“The doors of the Ministry responsible for financing and enterprise development are always open to entrepreneurs seeking business advisory services, soft loans and grants,” Otu said.

Speaking on behalf of the beneficiaries, the Chief Executive Officer of AM Global, Andifonkan Samuel, thanked the governor, the Federal Government and other stakeholders for their intervention.

Samuel said the support would help affected businesses begin the process of recovering from the consequences of the fire.

The SPAR Calabar branch manager, Gbenga Ewarawon, also expressed appreciation to the Federal and state governments for the intervention and support to the affected businesses.

The presentation followed the recent fire incident which affected businesses operating within the Calabar SPAR facility.

Otu said his administration would continue to support small and medium-sized enterprises, describing the informal sector as an important part of the state’s economy.