The Niger Delta Development Commission (NDDC), N30 billion has been placed in the Bank of Industry to support the expansion of small and medium-sized businesses throughout the nine states in the area. This was stated by Chief Samuel Ogbuku, the NDDC’s Managing Director, during a sensitisation event on Friday in Akure on the creation of the Niger Delta Chambers of Commerce, Industry, Trade, Mines, and Agriculture (NDCCITMA).
According to Ogbuku, who was represented by Mr. Otito Atikase, the Ondo State Representative in the NDDC, the funds were the commission’s counterpart fund for payments to entrepreneurs, nano, and other recipients to help them expand their businesses. According to him, the program would provide loans to those who were unable to obtain loans from traditional financial institutions.
The head of the NDDC added that the gesture was motivated by a genuine wish to address the long-term issues that businesses in the Niger Delta region face. According to him, the program would make sure that the people in the area experienced growth through real processes of economic empowerment.
The program will reach as many interested parties as possible, he said, adding that NDCCITMA would bridge the gap between NDDC and local company owners in order to help them maintain their operations. Ogbuku added that the commission was dedicated to collaborating closely with NDCCITMA to provide a prosperous path for the populace that would support the ongoing HOPE and IFAD programs.
He urged business associations to take advantage of the opportunity to further their objectives by consulting the chambers for insightful advice. Mr. Idaere Ogan, the Chairman of NDCCITMA, stated that the chambers’ creation aligned with the region’s main strategic development goals.
Ogan stated that the effort represented all of the economic sectors in the region that would direct development at the local level, as represented by Chief Solomon Edebiri, the Secretary of NDCCITMA. According to him, NDCCITMA has started to network seriously with a number of regional organisations. Our goal is to boost commerce and start development at every stage, from micro, small, and medium-sized businesses to huge organisations.
“We are ready to collaborate with our development partners to address the region’s food crisis, facilitate the production of goods, advance skills, and increase capacity. “We are certain that we can accomplish all of these by forming institutional partnerships both inside and outside the region,” he stated.
Mrs. Adetutu Adejuyigbe, the state representative of the Women Chamber of Commerce, and Mr. Akintunde Greatsheyi, the state president of the National Association of Small Scale Industrialists, praised the initiative, stating that it would aid in addressing the issues facing SMEs in the area.
