More than 2,500 entrepreneurs have received business and enterprise development training under various programmes introduced by the administration of Governor Bassey Otu as part of efforts to strengthen Micro, Small and Medium Enterprises (MSMEs) and stimulate economic growth in Cross River State.
The achievement was highlighted in “The MSME Story” documentary released by the Cross River State Microfinance and Enterprise Development Agency (MEDA), which outlined the administration’s interventions in enterprise development, skills acquisition, access to finance, and youth empowerment across the state. MEDA says its mandate includes facilitating sustainable MSME growth through capacity building, business development services and access to finance.
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According to the documentary, the training programmes have equipped thousands of residents with practical entrepreneurial skills, enabling beneficiaries to establish new businesses and expand existing ventures in various sectors of the economy.
The agency stated that the interventions were designed to address longstanding challenges confronting small businesses, including limited access to training, weak support structures, and inadequate opportunities for enterprise growth.
Among the initiatives highlighted were the Campus CEO Programme, which targets university students with entrepreneurship and innovation training, the Enterprise Clubs project introduced in secondary schools, and specialised programmes aimed at supporting women, youths, creatives, and retirees. MEDA lists Campus CEO, Enterprise Clubs, WO-NEED, YOU-LEAP and REDI among its flagship programmes.
The documentary noted that the state government had expanded entrepreneurship education to 100 secondary schools through the People First Enterprise Clubs initiative, while university students were being encouraged to transform innovative ideas into viable business ventures through the Campus CEO programme.
It further stated that women entrepreneurs had benefited from targeted empowerment initiatives designed to improve business sustainability and household incomes, while youths were being trained in digital skills, filmmaking, photography, content creation, and technology-driven enterprise development.
Retired civil servants were also incorporated into the state’s entrepreneurship agenda through the Retiree Entrepreneurship Development Initiative (REDI), which provides training, mentorship, and financial support to help beneficiaries transition into business ownership. MEDA has described REDI as a programme aimed at helping retirees become active participants in the state’s MSME sector.
The documentary attributed the growth in enterprise development to deliberate government investments in entrepreneurship support structures and access to finance.
It disclosed that the state secured a ₦1 billion matching fund partnership with the Small and Medium Enterprises Development Agency of Nigeria and also committed substantial resources to collaborative funding arrangements with the Bank of Industry to improve access to affordable credit for small businesses.
Recent engagements between the state government and the Bank of Industry have also culminated in the unveiling of a ₦2 billion MSME funding facility aimed at providing entrepreneurs with affordable financing for business expansion and job creation.
Stakeholders in the MSME sector have argued that enterprise development remains one of the most sustainable pathways for addressing unemployment and poverty, particularly among young people.
The documentary maintained that the administration’s focus on entrepreneurship, innovation, and skills acquisition was helping to create new economic opportunities while positioning Cross River as an emerging hub for small business development in the South-South region.
It added that the government would continue to expand programmes designed to provide residents with the skills, financing, and support required to build sustainable businesses and contribute to the state’s economic growth.
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