Build SME Village in Yenagoa – concerned Bayelsan writes Gov Douye Diri, lists benefits

A concerned Bayelsan, Mr. Barnabas McClint-Owei Ebiede, has called on the Senator Douye Diri led government to establish a Small and Medium Enterprises (SMEs) village in Yenagoa, the capital of Bayelsa state, to serve as a hub for production-based entrepreneurs, capable of harnessing the rich resources in the state among others.

In what he titled “Open Letter to His Excellency, Senator Douye Diri, Governor of Bayelsa State,” the concerned Bayelsan noted that SME Village in the state would enable businesses to process, package and market products such as cassava, plantain, snails, seafoods and other rich items in the region.

“I wish to humbly propose the establishment of an SME Village in Yenagoa in line with your vision of prosperity for our people. This initiative, which has been successfully implemented in other states across Nigeria, has the potential to drive industrialization, create jobs, and promote local entrepreneurship in Bayelsa,” the letter read in part.

Citing examples of states that had similar initiative such as Lagos State SME Estate, Fatai Atere Road, Ogun State Agbara Industrial Estate, Kaduna State Industrial Clusters and others, Mr. McClint-Owei Ebiede enumerated the impacts such initiatives had made in the various states.

Further explaining the advantages of a state-owned  SME village, he noted that the establishment will serve as a hub for production-based entrepreneurs.

“A Case for Bayelsa State SME Village:
The establishment of an SME Village in Yenagoa will build on the successes of these states, tailored to the unique needs and resources of Bayelsa.

“Vision for Bayelsa’s SME Village:
The proposed SME Village will serve as a hub for production-based entrepreneurs, offering affordable real estate under a mortgage system payable over ten years. It will be equipped with essential infrastructure and managed by a Facility Management Office to ensure proper maintenance and operations.

“Conditions for Occupants:
To ensure the facility benefits genuine enterprises, the following criteria will apply for allocation: business registration with the Corporate Affairs Commission (CAC) to operate in Bayelsa State, Tax registration within Bayelsa State, Focus on production-based activities, including food processing, packaging, and manufacturing.

“Incentives for Occupants:
To further encourage participation, occupants will be eligible for; low-interest loans for equipment purchase, grants to support business growth, capacity-building programs for improved productivity and market access,” the letter also read.

Naming the Benefits to Bayelsa State, Mr. McClint-Owei Ebiede mentioned the following:
1. Job Creation: The SME Village will provide employment opportunities, reducing dependence on politicians and fostering economic independence.

2. Industrialization: By encouraging production-based businesses, the initiative will stimulate industrial growth, adding value to local resources and increasing the state’s GDP.

3. Revenue Generation: Tax-compliant businesses operating in the SME Village will contribute to state revenue, while export-oriented products will boost foreign exchange earnings.

4. Entrepreneurial Growth: Affordable infrastructure and support will encourage entrepreneurship, fostering a culture of innovation and competitiveness.

He suggested the following as Implementation Framework

1. Stakeholder Collaboration:
The Bayelsa State Housing and Property Development Authority, in collaboration with the Ministry of Trade and Industry, should spearhead the design and execution of the SME Village.

2. Strategic Location:
The SME Village should be sited in Yenagoa, ensuring accessibility and proximity to transport links for local and export trade.

3. Supportive Policies:
The state government should introduce policies that incentivize entrepreneurship, such as tax breaks and subsidized utilities for occupants

In Economic Diversification Opportunities, he said “Bayelsa State has immense potential for economic diversification. The SME Village can enable businesses to process, package, and market products like Cassava and Byproducts: Garri, starch, fufu, cassava flour, and chips.

Plantain and Byproducts: Chips, flour, and dried plantain for export.
Seafood: Fish, prawns, oysters, clams, shrimps, and other packaged seafood.
Cash Crops: Palm oil, banga soup base, palm kernel oil, ogbono, and spices.
Snails: Processed and packaged snails for local and international markets.
Supermarket-Ready Products: Packaged dried seafood, palm wine, soup bases, and more.

On Funding and Financing of the project, he said “the establishment of the SME Village requires a strategic financing model. Potential funding sources include:
1. State Government Allocations:
A portion of the Bayelsa State budget can be allocated to this project under economic development and industrialization.

2. Public-Private Partnerships (PPPs):
Collaborations with private investors, development agencies, and financial institutions can provide both funding and technical support.

3. Federal Government Intervention:
The Federal Government, through initiatives like the Bank of Industry (BOI) and Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), can provide grants and low-interest loans for construction and operation.

4. International Development Agencies:
Development partners such as the World Bank, African Development Bank (AfDB), and UNIDO offer grants and funding for projects that support SMEs and industrialization.

5. Infrastructure Bonds:
Bayelsa State can issue infrastructure bonds to raise funds, with repayments tied to revenue generated from SME Village activities.

6. Occupant Mortgage Contributions:
Businesses allocated spaces will contribute through a flexible mortgage plan, spreading payments over a ten-year period.

7. State Bank Support:
The state can leverage existing state owned microfinance bank or establish a Bayelsa SME Development Bank to provide financial support to occupants.”

Mr. Barnabas McClint-Owei Ebiede conclusively noted that “the establishment of an SME Village in Yenagoa will position Bayelsa as a forward-thinking state, committed to empowering its people and harnessing its resources for sustainable growth.”

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