Governor Bassey Otu Flags Off N500 Million Loan Disbursement to Empower Cross River State Business Community
In a major stride toward fulfilling the People First mandate, the Executive Governor of Cross River State, His Excellency, Sen. Prince Bassey Edet Otu, is set to officially flag off the disbursement of N500 Million in loans to the state’s business community.
The event, organised by the Microfinance and Enterprise Development Agency (MEDA), will take place on Friday, March 20, 2026, at Bishop Moynach Avenue, State Housing, Calabar, by 10AM prompt.
This strategic financial intervention is designed to stimulate the local economy by providing indigenous Micro, Small and Medium Enterprises (SMEs) with much-needed capital to scale operations, increase productivity, and create sustainable employment. The disbursement follows a rigorous screening process led by MEDA to ensure that genuine entrepreneurs across the state’s 18 Local Government Areas receive the support required to thrive in a competitive market.
Our goal is to move nano-enterprises to micro, and small businesses to medium-scale giants. This N500 Million fund is not just a loan; it is an investment in the ingenuity of our people and a testament to Governor Otu’s commitment to making Cross River an enterprise-driven state.
The Cross River State Government remains committed to fostering a conducive business environment through infrastructure development, policy reforms, and direct financial interventions like the MEDA loan scheme.
