The Federal Capital Territory Administration (FCTA) has announced plans to formalize the activities of scrap markets in the nation’s capital. The FCTA aims to establish a world-class Pantaker Enterprise hub to effectively engage the informal sector of the economy.
Once established, the hub is expected to provide shared facilities for operators at the scrap market, coordinating their operations and sanitizing the environment by removing them from road corridors.
Chudi Ezirigwe, the Acting Managing Director and Chief Executive Officer of Abuja Enterprise Agency, disclosed these plans to newsmen during a media briefing in Abuja. He mentioned that the arrangement would allow operators to access business development services, government interventions, and other services to help improve their businesses.
According to him, residents of the FCT engaged in the informal use of waste such as wood, aluminum, iron, and other metals will constitute the hub.
He stated, “The idea of having the Pantaker is to create a formal location with shared facilities. The intention is to provide shared facilities for entrepreneurs in different areas, including metal fabricators, carpenters, and those using polyethylene to form usable items, among others.
“So that is the concept behind the Pantaker, to formalize them, get them registered, and help them understand that there are government interventions they can access. We believe that formalizing them in a shared facilities environment called ‘the Pantaker’ will position them to access the agency’s business development services. This will make our job easier and make the businesses more sustainable and profitable.”
He mentioned that the plan is at an advanced stage, with the concept document sent to the minister, awaiting ministerial directive.
“We are an agency of the government, and we follow the directive principles as directed. So, when we get the endorsement of the Honourable Minister of the FCT, I believe that we have a performing minister. I am hoping and looking forward to positive endorsement of that program by the Honourable Minister of the FCT.”
Regarding achievements in five years, the Managing Director said the agency has created over 13,670 jobs, funded 4,761 businesses, and established 3,868 enterprises during the period.
Ugwuada-Ezirigwe added that the AEA had also promoted entrepreneurship for 9,557 individuals, grown 7,327 enterprises, and built the capacity of 1,962 entrepreneurs during the period.
He stated, “For us as an Agency of the FCT Administration, our services are targeted at rural people across the Six Area Councils of the Federal Capital Territory.”