The Niger Delta Development Commission (NDDC) has introduced a ₦1.5 billion soft loan scheme in partnership with the Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) to support 1,500 small and medium-scale businesses across the Niger Delta region.
Launched in Port Harcourt, the initiative is part of NDDC’s broader plan to boost grassroots entrepreneurship, create jobs, and promote economic growth. The programme targets nano, micro, small, and medium enterprises (MSMEs) across the nine oil-producing states, offering affordable loans to improve financial inclusion and local business development.
Chairman of NDCCITMA, Ambassador Idaere Gogo-Ogan, praised the Commission for what he called a transformative partnership that focuses on wealth creation and regional stability. He said the loan scheme would enable entrepreneurs to grow their businesses, employ more people, and reduce poverty.
“This programme is designed to reach the poorest of the poor, the micro and small business operators,” Gogo-Ogan said. “Sustainable development begins from the bottom up. When small businesses are empowered, the economy grows naturally and inclusively.”
He explained that the facility includes a one-year repayment plan with a three-month moratorium at a 9 percent annual interest rate. The first ₦1.5 billion disbursement marks the beginning of a wider empowerment drive, with another ₦2 billion expected by December.
According to Gogo-Ogan, the loan categories are based on business size, ranging from ₦200,000 for nano enterprises to ₦50 million for medium-scale ventures. “We profiled all beneficiaries and worked closely with consultants to ensure due diligence,” he said. “The impact of this initiative will be far-reaching, fostering entrepreneurship, reducing unemployment, and curbing youth restiveness.”
He added that financial inclusion for local entrepreneurs is essential for lasting regional peace, stressing that small businesses remain the backbone of the Niger Delta economy.
NDDC’s Director of Commercial and Industrial Development, Mrs. Lina Okara, said the programme aligns with the Commission’s goal of driving sustainable economic growth across the region.
She advised beneficiaries to manage the funds responsibly, emphasizing that accountability and discipline would determine the programme’s success. “This is a unique opportunity to build your business and empower others in your community,” Okara said. “Your success will determine how far this empowerment model can go.”
The NDDC–NDCCITMA partnership stands as one of the Commission’s largest empowerment initiatives in recent years, supporting President Bola Ahmed Tinubu’s vision for inclusive economic growth and sustainable development. With over 1,500 entrepreneurs benefiting in the first phase, the scheme is seen as a major step toward rebuilding the Niger Delta economy through innovation and enterprise.