The Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture, NDCCITMA, with the support of the Niger Delta Development Commission, NDDC, has disbursed cheques worth N1.5 billion to 1,500 beneficiaries to boost small and medium-scale businesses in the Niger Delta region.
During the flag-off of the Investment Partnership Scheme in Port Harcourt, the Chairman of NDCCITMA, Ambassador Idaere Gogo-Ogan, explained that the fund marks the first phase of the disbursement aimed at empowering people across the region. He said the initiative is part of a broader economic empowerment strategy to reduce poverty and promote business growth in the Niger Delta.
According to him, the programme targets various categories of entrepreneurs. “The nano group of beneficiaries, the poorest of the poor, will receive 200,000 naira each, while the micro, small-scale and medium-scale categories will receive N3 million, N7 million, and N20 million, respectively, to boost their investments,” Gogo-Ogan stated.
He further explained that the aim of the partnership is to uplift vulnerable people and promote inclusive growth. “Our core mandate is to strive to reduce poverty in the region. We are optimistic that our partnership with a strong institution like NDDC will enable us to reach the poorest of the poor, small-scale businesses, and lift over 2,000 people in the region out of poverty. We believe that robust development comes not only from the top but also from the bottom. So, when you aggregate all the categories, you can begin to see the gains of genuine economic prosperity,” he added.
The NDCCITMA Chairman revealed that the beneficiaries would enjoy a low interest rate of 0.6 per cent, noting that it would allow more people to benefit from the fund. He assured them that the Chambers of Commerce would continue to offer mentorship, business support, and promotions to help their enterprises compete favourably with others across the country.
Also speaking, the NDDC Director of Commercial and Industrial Development and Chairman of the Implementation Committee, Mrs. Lyna Okara, commended the leadership of the NDDC for creating a platform that connects business-minded individuals across the region. She said the launch of the investment partnership scheme was timely and a clear indication that the region is moving toward rapid economic growth.
A representative of the Small and Medium Enterprises Development Agency of Nigeria, SMEDAN, Mrs. Olalek Rasheed, urged entrepreneurs to maintain proper documentation to access the funds. She also advised beneficiaries not to divert the support to non-economic activities.