CALABAR — The Micro, Small and Medium Enterprises (MSME) sector in Cross River State has recorded significant growth under the administration of Governor Bassey Edet Otu, with expanded access to finance, entrepreneurship development programmes, digital skills training and increased support for women, youths and retirees emerging as key drivers of the state’s economic transformation.
Officials of the Cross River State Microfinance and Enterprise Development Agency (MEDA) said the state has witnessed a major shift in enterprise development since the inception of the Otu administration, with deliberate policies aimed at strengthening small businesses and creating sustainable livelihood opportunities across the 18 local government areas.
According to the agency, through a recently released documentary tagged Cross River MSME Story, one of the administration’s most significant interventions was the securing of a N1 billion matching fund in collaboration with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), alongside the activation of various federal MSME financing windows designed to improve access to capital for entrepreneurs.
The state government also approved a separate N1 billion matching fund arrangement with the Bank of Industry to facilitate the implementation of MSME development programmes targeted at business owners, retirees, women, youths and creative entrepreneurs.
MEDA disclosed that more than N1.5 billion in grants, loans and enterprise support initiatives have been channelled towards strengthening small businesses, helping beneficiaries expand operations, improve productivity and create employment opportunities.
The agency noted that beyond financial interventions, the government has prioritised entrepreneurial capacity development through structured training programmes that have equipped over 2,500 residents with practical business management skills.
Officials said the training initiatives have enabled many beneficiaries to establish new enterprises while supporting existing businesses to improve operational efficiency and competitiveness.
As part of efforts to nurture an entrepreneurial culture among young people, the state government introduced the People First Enterprise Clubs in secondary schools across the state.
The initiative, according to MEDA, has reached about 100 secondary schools and aligns with ongoing national efforts to integrate entrepreneurship education into the learning process.
The government has also expanded entrepreneurship support within tertiary institutions through the Campus CEO programme, which provides students with mentorship, business development training and opportunities to transform innovative ideas into viable enterprises.
In the area of women’s economic empowerment, the OneED programme has provided targeted support to female entrepreneurs, including traders, artisans, professionals and small business owners seeking to expand their ventures.
MEDA said some beneficiaries have secured opportunities to explore international markets, with one participant reportedly travelling to China to expand business networks and acquire new market experience.
The state’s youth empowerment efforts have equally focused on the digital economy through the Youth Leadership and Enterprise Advancement Programme (YOU-LEAP), which offers training in filmmaking, content creation, photography, digital fashion design and other technology-driven sectors.
Officials described the programme as part of broader efforts to position Cross River youths for opportunities in emerging industries and the rapidly expanding digital marketplace.
Retired civil servants have also benefited from enterprise support programmes under the administration.
Through the Retiree Entrepreneurship and Innovation Transition Initiative (RITI), hundreds of retirees have received financial support and business development training aimed at helping them establish sustainable post-service livelihoods.
MEDA disclosed that 500 retirees received grants of N500,000 each under the programme, with many already operating small-scale businesses.
The state has also gained national recognition for its MSME development efforts.
Cross River hosted the eighth Expanded National MSME Clinic attended by the Vice President, while the state also relaunched its Entrepreneurship Development Centre to strengthen business incubation and entrepreneurial training.
Other notable interventions include the establishment of the state ICT Hub, the organisation of the Techies Connect initiative aimed at promoting innovation among technology professionals, and the hosting of exhibitions showcasing locally produced goods and services under the “Made in Cross River” initiative.
The agency noted that the administration’s MSME strategy is built on the belief that economic growth is best achieved through widespread enterprise development and the empowerment of ordinary citizens.
According to MEDA, the government’s interventions have helped create a more supportive environment for business growth while encouraging innovation, job creation and economic inclusion.
Observers say the increasing focus on entrepreneurship development represents a shift from reliance on public sector employment toward private-sector-led economic growth, with small businesses increasingly becoming important contributors to household incomes and local economic activity.
As the administration marks three years in office, stakeholders within the enterprise sector maintain that sustained investment in MSMEs remains critical to diversifying the state’s economy, reducing unemployment and expanding opportunities for citizens across urban and rural communities.
For many beneficiaries, the programmes represent more than economic interventions; they are opportunities for self-reliance, wealth creation and long-term financial stability, reinforcing the government’s broader vision of building an inclusive and enterprise-driven economy in Cross River State.
