…Minister Owan-Enoh Launches ₦500m MSME Grant Scheme in Cross River
Calabar— Nigeria’s Minister of State for Commerce, Industry and Investment, Senator John Owan-Enoh, has assured that the newly introduced ₦500 million Nano MSME Intervention Program designed to support entrepreneurs and artisans across Cross River state will be managed with utmost transparency NEGROIDHAVEN can report authoritatively.
Speaking during the official unveiling of the scheme in Calabar on Friday, the minister said he had deliberately partnered with investigative journalist and activist, Agba Jalingo, to ensure credibility and public trust in the process.
“Nigerians are tired of empowerment programmes that never reach the intended beneficiaries. This time, we are determined to do things differently. Not a single kobo will be diverted,” Owan-Enoh stated. “This is my personal contribution to the Cross River economy. It is not just money for politics, but a grant meant to grow businesses and reduce unemployment,” he continued.
The Minister explained that the intervention complements existing federal government efforts through the Bank of Industry, SMEDAN, and NADDC, but targets everyday entrepreneurs often excluded from mainstream programs.
Owan-Enoh also commended Governor Bassey Otu for his support to MSMEs and retirees in the state, noting that both state and federal governments must continue to provide seed capital to encourage self-reliance.
“Not everybody will get government jobs. Across the world, industrial manufacturing and entrepreneurship remain the greatest employers of labour. Cross River must not be left behind,” he added.
Investigative journalist and activist Agba Jalingo, who is part of the oversight team, assured transparency in the disbursement. “Not a dime will be stolen. Every kobo will reach the intended beneficiaries,” he pledged.
Jalingo pledged to monitor the scheme independently and hold managers accountable for every disbursed fund. He urged beneficiaries to report any irregularities directly to him or through the monitoring channels that will be set up.
The grant scheme not being a loan and aimed at strengthening small and medium-scale businesses in both formal and informal sectors is expected to empower over 2,000 youths and women across the state in its first phase. It has drawn attention due to Nigeria’s history of failed interventions marred by corruption and favoritism.
Under the scheme, beneficiaries in the formal business sector will receive between ₦100,000 and ₦500,000, while artisans and traders in the informal sector can access up to ₦150,000. Selection will cut across all 18 local government areas of the state, with priority placed on the location of the business rather than LGA of origin.
To ensure credibility, the program will run in four batches, with beneficiaries undergoing a mandatory one-week entrepreneurship training in each senatorial district.
Stakeholders at the launch commended the unusual collaboration, saying it sets a new standard for accountability in public programmes.
The unveiling was witnessed by representatives of the Calabar Chamber of Commerce, the Manufacturers’ Association, and civil society leaders.
