5,350 C’RIVER ENTREPRENEURS BENEFIT FROM MSME INTERVENTIONS

More than 5,350 entrepreneurs and micro, small and medium enterprises (MSMEs) across Cross River State have benefited from various government empowerment initiatives aimed at strengthening businesses, improving livelihoods and stimulating economic growth.

The interventions include cash grants, skills acquisition, business development training, capacity-building programmes and access to low-interest loans. They were implemented through partnerships between the Federal Government and the Cross River State Government.

The Director-General of the Cross River State Micro Enterprise Development Agency (MEDA), Great Ogban, disclosed this during a Manufacturing and MSME Town Hall Meeting held at the Dome, Calabar Municipality Garden.

Ogban explained that the programmes were designed to reach entrepreneurs across the state's three senatorial districts, ensuring that business owners in rural communities also benefited from government support.

He disclosed that the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) had trained 2,500 participants, while another 2,000 people benefited from a separate intervention. Of the latter group, 500 entrepreneurs received grants of ₦500,000 each.

He also highlighted a ₦200 million MSME intervention, single-digit interest loans and ₦50,000 grants facilitated through SMEDAN and the Bank of Industry.

Ogban commended Governor Bassey Otu for providing 1,000 free Corporate Affairs Commission business registration opportunities to entrepreneurs, describing the initiative as an important step towards helping small businesses formalise their operations.

Minister of State for Industry, John Owan Enoh, who also attended the meeting, described MSMEs as critical to Nigeria's economic development, noting their contributions to employment generation, production and national income.

Enoh further disclosed plans for additional industrial investments in Cross River, including a proposed electric bicycle assembly plant, an automotive-related project and a technical training centre.

He said the proposed investments would create opportunities for young people, strengthen local manufacturing and expand the state's industrial capacity.

The stakeholders emphasised the need for sustained government support, improved access to finance and stronger partnerships to help small businesses grow and contribute more significantly to Nigeria's economy.