NDDC Allocates 30 Billion to Boost SMEs in Nine Niger Delta States

by Innocent Eneta,

The Niger Delta Development Commission (NDDC) has earmarked ₦30 billion to support the growth of small and medium-sized enterprises (SMEs) across nine states in the region. This initiative is part of the Commission’s ongoing efforts to stimulate economic development and alleviate the challenges faced by entrepreneurs in the Niger Delta.

Chief Samuel Ogbuku, Managing Director of NDDC, announced the initiative during a sensitisation programme held on Friday in Akure. The event was focused on the establishment of the Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA). Ogbuku, who was represented by the Ondo State representative in NDDC, Mr. Otito Atikase, revealed that the sum had been deposited in the Bank of Industry as a counterpart fund for the disbursement of loans to entrepreneurs and nano enterprises.

“The Commission is committed to providing financial support to those who are unable to secure loans from conventional financial institutions,” Ogbuku said. He emphasised that the initiative stems from a genuine desire to tackle the persistent challenges that businesses in the Niger Delta face.

This funding programme is expected to facilitate access to financial resources, enabling local entrepreneurs to grow their businesses and create sustainable development opportunities in the region. Ogbuku added that NDCCITMA would serve as a bridge between the NDDC and entrepreneurs, ensuring that economic empowerment reaches as many people as possible.

The NDDC is also working closely with NDCCITMA to complement its existing projects, including the HOPE and IFAD programmes, which are designed to promote sustainable development across the region. Ogbuku noted that partnering with NDCCITMA will bring significant relief to entrepreneurs by providing the necessary support to sustain their ventures.

The Executive Director of Projects at NDDC, Mr. Victor Antai, echoed these sentiments during the event, underscoring the importance of raising awareness about the establishment of NDCCITMA and the opportunities it represents for economic advancement. Antai, represented by Dr. Godwin Nosiri, Director of Commercial and Industrial Development, expressed concern over the near extinction of nano and micro businesses in the region, and emphasised that the initiative aims to stimulate economic growth from the grassroots level.

“We encourage business groups to embrace this development and seek valuable counsel from the chambers to advance their interests,” Antai stated.

Mr. Idaere Ogan, Chairman of NDCCITMA, praised the partnership with the NDDC, describing it as consistent with the strategic development objectives for the Niger Delta. Represented by Chief Solomon Edebiri, Secretary of NDCCITMA, Ogan noted that the initiative aims to invigorate trade and promote development at all levels, from nano businesses to large organisations.

“We are working to solve the food problem of the region, enable the manufacturing of goods, develop skills, and build capacity through collaboration with development partners,” Ogan said.

He further highlighted that NDCCITMA has already initiated networking with various groups within the region, aimed at fostering economic growth through these institutional collaborations.

The initiative has been well-received by local stakeholders, including Mr. Akintunde Greatsheyi, President of the National Association of Small Scale Industrialists, and Mrs. Adetutu Adejuyigbe, a representative of the Women Chamber of Commerce in Ondo State. Both expressed optimism that the programme would address the key challenges confronting SMEs in the Niger Delta and unlock new growth opportunities for businesses in the region. Apple Announces CFO Transition: Luca Maestri to Step Down, Kevan Parekh to Succeed in 2025