The Minister of State for Industry, Trade and Investment, Senator John Enoh, has rolled out a N500 million empowerment fund to support Micro, Small, and Medium Enterprises (MSMEs) in Cross River State.
Speaking at the unveiling in Calabar, Senator Enoh explained that the intervention is his personal initiative, distinct from government-sponsored programs, with a target of over 1,000 beneficiaries in its first phase.
He said, “This intervention fund is a personal initiative designed to empower our people. This initiative was born out of a sincere commitment and responsibility to society and aims to support over 1,000 beneficiaries in its initial phase.”
Support for Formal and Informal Sectors
While structured businesses will apply through an online platform, artisans, food vendors, welders, and mechanics will be reached using printed forms distributed across the 18 local government areas.
The Minister emphasized that the scheme is a grant, not a loan, intended to stimulate economic growth, create jobs, and strengthen sustainable livelihoods. “It is meant to grow our economy, create jobs and help young people and artisans build sustainable livelihoods, not to be diverted for politics or immediate consumption like paying rent,” he clarified.
Alignment with National Agenda
Senator Enoh also noted that the initiative aligns with the Renewed Hope Agenda of President Bola Ahmed Tinubu, which prioritizes industry growth, economic reforms, and manufacturing expansion.
Transparency in Implementation
Activist and journalist Agba Jalingo, who spoke for the implementation committee, assured that the process would be transparent. He said the program will be executed in four batches, with each set including 150 beneficiaries from the formal sector and 325 from the informal sector across all 18 LGAs.
“This is not government money; it is a private initiative of the Minister. Not a dime will be stolen. Our duty is to ensure that every kobo goes directly to the people who need it most,” Jalingo stressed.
Application Channels
Applicants can register at hmindustry.ng for the online process, while artisans without internet access will receive physical forms.
Stakeholders such as the Calabar Chamber of Commerce, Industry, Mines and Agriculture, and the Microfinance and Enterprise Development Agency pledged to support the program’s success.
okay.ng reports that the Minister’s gesture has been widely commended as a model for private-public partnership in entrepreneurship development.
