By Eme Offiong, Calabar
The Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) has launched an investment partnership scheme designed to energize small and medium-scale enterprises (SMEs) across the region.
Speaking at the event of the pilot scheme in Calabar, the capital of Cross River State, southern Nigeria, the Board Chairman of NDCCITMA, Ambassador Idaere Ogan, said the initiative was aimed at diversifying the region’s economy from dependence on oil to a vibrant, multi-sectoral structure driven by entrepreneurship.
According to Ogan, the scheme, worth ₦2 billion (Two billion naira) would support 1,000 businesses drawn from various sectors and categories such as nano, micro, small, and medium enterprises with access to finance, mentorship and technical support.
He said, “this initiative is a deliberate strategy to grow the economy of the Niger Delta through partnership-driven investments.
Our goal is to create jobs, energise local businesses and limit youth restiveness by offering real opportunities for enterprise development.”
Ogan disclosed that the investment scheme was in collaboration with the Niger Delta Development Commission (NDDC) and backed by several strategic partners including the Nigerian Association of Small and Medium Enterprises, Small and Medium Enterprises Development Agency of Nigeria, Manufacturers Association of Nigeria, FADAMA and Citi Chambers of Commerce.
He further stated that the scheme offered a monthly return of 0.66 percent with a three-month moratorium to allow beneficiaries stabilize their operations.
“The beneficiaries must demonstrate integrity, commitment and hard work to justify this gesture.
We expect those at the nano level to grow to micro, small, medium and ultimately mega enterprises,” Ogan said.
He noted that the programme would promote the use of local resources, foster political stability and peace across the Niger Delta through productive engagement and sustainable livelihoods.
“With over ₦2 billion to be disbursed to more than 1,000 entrepreneurs, NDCCITMA and the NDDC are taking a bold step toward transforming the business landscape of the region,” the chairman concluded.
The chairman was represented by the Cross River State Director of NDCCITMA, Mrs. Bassey Ndem, who presented some of the beneficiaries with offer letters and cheques worth between ₦200 Thousand and ₦10 Million.
Also speaking, the Director General, Microfinance and Enterprise Development Agency, Cross River State, Great Ogban said, “the programme is a welcome development in our state.
The beneficiaries have been empowered, strengthened with monies to enhance their businesses, which means opportunity for growth and employment, and that is good for our economy.
“Nano-businesses are the engine room of every economy. I want to encourage the beneficiaries to take it seriously because the continuity of this programme is tied to their outcome.
If they make good use of this opportunity, the initiative will be taken to the next level and more people will benefit. So, I would encourage them to use the money as planned,” he urged.
On the issues of taxation affecting nano and micro enterprises, Ogban assured, “as a state, we have made several efforts to ensure that the nano-SMEs are given some tax haven and protected.
But, the new tax reform, which would kick off from January 2026, will put all of these issues to rest.”
There were goodwill messages from stakeholders including the chairman, Cross River State Small and Medium Scale Enterprises, Declan Idagu.
Victoria Ibanga