Chamber of Commerce, NDDC Release N1.5 Billion to Boost Businesses in Niger Delta
Port Harcourt, Nigeria – The Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA), in partnership with the Niger Delta Development Commission (NDDC), has disbursed N1.5 billion to 1,500 beneficiaries under its newly launched Investment Partnership Scheme, aimed at stimulating business growth and reducing poverty across the Niger Delta.
Speaking during the official flag-off in Port Harcourt, the Chairman of NDCCITMA, Ambassador Idaere Gogo-Ogan, said the fund marks the first phase of disbursement designed to empower entrepreneurs and strengthen grassroots economic activities in the region.
According to him, beneficiaries in the nano category described as the poorest of the poor will receive ₦200,000 each, while the micro, small-scale, and medium-scale groups will access ₦3 million, ₦7 million, and ₦20 million respectively to expand their businesses.
“Our core mandate is to reduce poverty in the Niger Delta. Partnering with a strong institution like the NDDC will enable us to reach small-scale entrepreneurs and lift over 2,000 people out of poverty,” Gogo-Ogan stated. “When you aggregate all the categories, you begin to see the gains of genuine economic prosperity.”
He also announced that the beneficiaries would enjoy a low interest rate of 0.6 percent, allowing the Chambers to reach more entrepreneurs across the region. To ensure sustainability, NDCCITMA plans to adopt a mentorship-based approach, offering financial guidance and business promotion support to help beneficiaries compete effectively nationwide.
In her remarks, the NDDC Director of Commercial and Industrial Development and Chairman of the Implementation Committee, Mrs. Lyna Okara, commended the Commission’s leadership for initiating the programme, describing it as a timely step toward rapid regional development. She urged entrepreneurs to take full advantage of the opportunity to grow and formalize their businesses.
Also speaking, Mrs. Olalek Rasheed, representing the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), encouraged beneficiaries to maintain proper business documentation and cautioned against diverting the funds for non-productive purposes.
The scheme, jointly implemented by NDCCITMA and NDDC, underscores a shared commitment to inclusive economic empowerment, sustainable entrepreneurship, and grassroots development across the Niger Delta.
