In a significant move to dismantle financial barriers and attract high-level investment, Governor Otu’s administration is spearheading a groundbreaking initiative to provide accessible financing and streamline land administration in Cross River State. The Cross River State Microfinance and Enterprise Development Agency (MEDA) and the Cross River State Geographic Information Agency (CRGIA) have announced a strategic collaboration to empower small business owners by leveraging land ownership as collateral.
Great Ogban, Director General of MEDA, highlighted the persistent challenge faced by Micro, Small and Medium Enterprises (MSMEs) in accessing funding due to collateral constraints. “For too long, the lack of accessible collateral has stifled the growth potential of our SMEs,” stated Ogban. “This partnership with CRGIA will ensure that residents can efficiently obtain Certificates of Occupancy (CofO), unlocking vital capital for business expansion and attracting crucial investment to our state.”
William Archibong, Director General of CRGIA, echoed this sentiment, emphasizing the agency’s commitment to revitalizing land administration processes. “Following a period of inactivity, CRGIA is undergoing a comprehensive rehabilitation to modernize and streamline our services,” Archibong explained.
“This partnership aims to transform land ownership into a powerful economic tool, providing a silver lining for small business owners who have long struggled with collateral requirements. This initiative is expected to stimulate economic growth across Cross River State by unlocking the inherent value of land,” he concluded.
The collaborative meeting, which solidified the partnership, included key personnel from both agencies, demonstrating a unified commitment to the initiative’s success.
It also marks a significant step towards realizing Governor Otu’s vision of a prosperous and economically vibrant Cross River State, where access to finance is no longer a barrier to growth.
