5,350 C’River entrepreneurs benefit from MSME interventions

In Cross River State, over 5,350 micro, small and medium enterprises (MSMEs) and local entrepreneurs have benefited from a range of government interventions, including cash grants, skills training and capacity-building programmes. Director General of the Cross River State Micro Enterprise Development Agency, Great Ogban, disclosed these figures during a Manufacturing and MSME Town Hall Meeting in Calabar on Sunday.

The interventions, aimed at stimulating grassroots economic growth, covered all three senatorial districts of the state. The State Micro Enterprise Development Agency (SMEDAN) trained 2,500 individuals across the state, while another 2,000 benefited from a separate programme, with 500 receiving grants of ₦500,000 each. Beneficiaries are actively applying the skills and financial support to expand their businesses.

Cross River businesses have also accessed low-interest loans and grants, totalling ₦200 million, as part of the state's MSME interventions. Governor Bassey Otu's administration provided 1,000 free Corporate Affairs Commission business registration opportunities, reducing the cost and administrative burden of formalising businesses.

The Minister of State for Industry, Senator John Owan-Enoh, highlighted MSMEs as central to Nigeria's economic growth and development, urging entrepreneurs to continue their contributions. Several Federal Government initiatives for Cross River are planned, including an electric bicycle assembly plant and an automotive training centre, with more than 2,000 residents benefiting from Federal Government grant programmes, NITDA mentorship and digital business development schemes.