The Federal Government through the Niger Delta Chamber of Commerce Industry Trade Mines and Agriculture (NDCCITMA) in partnership with the Niger Delta Development Commission (NDDC) has launched a ₦1.5 billion empowerment scheme to support 1,500 Micro Small and Medium Enterprises (MSMEs) across the Niger Delta region.
The initiative which was unveiled in Port Harcourt is aimed at boosting enterprise growth creating jobs and promoting inclusive economic development. Under the scheme nano enterprises will receive ₦200,000 micro businesses ₦3 million small-scale enterprises ₦7 million while medium-scale enterprises will access up to ₦20 million.
Chairman of NDCCITMA Ambassador Idaere Gogo-Ogan said the initiative is designed to tackle poverty at the grassroots through affordable financing with a 0.6 percent interest rate. He added that beneficiaries will also receive business development support including training mentorship and access to markets.
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Mrs Lyna Okara NDDC Director of Commercial and Industrial Development who chairs the Implementation Committee said the partnership represents a strategic investment in regional productivity urging entrepreneurs to take advantage of the opportunity.
The programme which targets 1,500 MSMEs in its first phase is expected to expand to reach over 2,000 entrepreneurs in subsequent phases.
MSMEs in the Niger Delta interested in the initiative are encouraged to visit http://www.ndccitma.org.ng for application details.
