By Our Reporter
The Cross River State Government has invested more than N3.5 billion in micro, small and medium enterprise (MSME) development programmes as part of efforts to stimulate entrepreneurship, create jobs and strengthen the state’s non-oil economy under the administration of Governor Bassey Edet Otu.
The investments, implemented through the Cross River State Microfinance and Enterprise Development Agency (MEDA), have expanded access to finance, business development services, skills acquisition programmes and entrepreneurship support for thousands of residents across the state.
According to a documentary titled The MSME Story, the state secured a N1 billion matching fund partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) while also facilitating access to federal MSME financing windows and attracting over N1.5 billion in grants and business support interventions for entrepreneurs.
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The documentary further disclosed that Governor Otu approved an additional N1 billion matching fund arrangement with the Bank of Industry to support the implementation of MSME development programmes targeting youths, women, retirees, creative entrepreneurs and other small business owners.
The government said the interventions were designed to address longstanding challenges facing small businesses, including limited access to credit, inadequate entrepreneurial support structures and weak market linkages.
“Before Governor Bassey Otu took office, the MSME landscape in Cross River State was marked by limited access to finance, weak support structures and a struggling pipeline for skills, innovation and market visibility,” the documentary stated.
It added that the administration had since embarked on a broad-based economic empowerment agenda aimed at promoting enterprise development and sustainable livelihoods across the state.
As part of the strategy, over 2,500 residents have reportedly received practical business training through various entrepreneurship and skills acquisition programmes designed to help participants establish and expand businesses.
The state government also expanded entrepreneurship education to the secondary school level through the People First Enterprise Clubs initiative, which has been introduced in 100 schools across Cross River.
Officials said the programme aligns with national efforts to encourage entrepreneurship education among young people and cultivate future business leaders.
The documentary highlighted the Campus CEO programme as another intervention aimed at helping university students transform innovative ideas into viable business ventures.
Women entrepreneurs have also benefited through the OneED initiative, which focuses on supporting female-owned enterprises, artisans, traders and professionals seeking to scale their businesses.
In addition, the state government launched the ULEAP programme to prepare young people for opportunities in the digital economy through training in filmmaking, content creation, photography and technology-driven fashion design.
Retired civil servants have equally benefited from entrepreneurship support through the Retiree Entrepreneurship Initiative Programme (RITI), under which 500 retirees reportedly received grants of N500,000 each to establish businesses and generate post-retirement income.
The documentary noted that Cross River’s MSME development efforts have attracted national recognition, including the hosting of the Eighth Expanded National MSME Clinic attended by senior federal government officials.
The state also relaunched its Entrepreneurship Development Centre (EDC), commissioned an Information and Communication Technology hub, organised the Techies Connect innovation gathering and hosted the Made-in-Cross-River exhibition to showcase local products and innovations.
According to the documentary, the state has emerged as one of Nigeria’s leading subnational governments in MSME promotion, securing nano-grants for more than 2,000 small businesses while creating new opportunities for entrepreneurs across multiple sectors.
The government said the interventions form part of Governor Otu’s broader vision of building an inclusive economy where residents, irrespective of age, gender or social background, can access opportunities for wealth creation and self-reliance through entrepreneurship.
Officials maintained that strengthening MSMEs remains critical to achieving sustainable economic growth, reducing unemployment and improving household incomes across Cross River State.
