The Minister of State for Industry, Trade and Investment, Senator John Owan Enoh, has launched a ₦500 million intervention fund to support Micro, Small and Medium Enterprises (MSMEs) in Cross River State.
Announcing the initiative in Calabar, Enoh described it as a personal project aimed at empowering over 1,000 entrepreneurs and artisans, separate from federal and state programs. Beneficiaries, ranging from formal businesses to informal operators like welders, food vendors, and roadside mechanics will access grants between ₦100,000 and ₦500,000.
He emphasized that the support is a grant, not a loan, targeted at job creation and sustainable livelihoods. Applicants in the formal sector can register online via hmindustry.ng, while artisans will access physical forms across the 18 LGAs.
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Agba Jalingo, speaking on behalf of the implementation committee, assured transparency and disclosed that beneficiaries must undergo a one-week entrepreneurship training before disbursement.
Enoh also commended Governor Bassey Otu's ₦1 billion BoI counterpart fund, noting that such efforts will strengthen small businesses and reduce reliance on government jobs.
