In Calabar on Friday, Senator John Enoh, the Minister of State for Industry, Trade, and Investment launched a ₦500 million MSME intervention programme aimed at boosting businesses across Cross River State. This is a personal initiative separate from existing federal or state schemes and targets both registered enterprises and informal operators like welders, food vendors, artisans, and mechanics.
Designed to support over 1,000 recipients, the programme will disburse between ₦100,000 and ₦500,000 per beneficiary. Formal businesses can apply online, while informal operators can access printed forms distributed across the state’s 18 local government areas. A mandatory one-week entrepreneurial training hosted in all three senatorial districts precedes funding.
Enoh emphasized that the fund is a grant, and not a loan intended to generate real jobs and sustainable income opportunities rather than being misused for immediate personal expenses like rent.
To promote transparency, activist-journalist Agba Jalingo, representing the implementation committee, outlined a phased roll-out: four batches, each comprising 150 formal-sector and 325 informal beneficiaries, evenly spread across local areas. He reassured that “not a kobo will be stolen. Every naira goes to those who need it most.”
Entrepreneurs can apply online via hmindustry.ng, and physical forms will be available for those without internet access. Stakeholders including the Calabar Chamber of Commerce, Industry, Mines and Agriculture, and the Microfinance and Enterprise Development Agency pledged support to ensure the scheme’s success.