The Niger Delta Development Commission (NDDC) says it will disburse N10 billion to support 5,000 businesses through the Niger Delta Chamber of Commerce, Industry, Trade, Mines, and Agriculture (NDCCITMA).
Samuel Ogbuku, the NDDC managing director, announced the investment on Friday during the inauguration of the NDCCITMA board of directors in Port Harcourt.
Ogbuku said the N10 billion is part of the N30 billion commitment by the commission to invest in the chamber, marking the beginning of the entrepreneurship development programme which aims to boost economic growth in the region.
“Earlier, I did mention that the commission will be investing N30 billion in the Enterprise Development scheme to be managed by NDCCITMA to support entrepreneurs in our region, from NANO, Micro to the small-scale level,” he said.
“I am here to reaffirm that promise. We shall make good on the promise by releasing N10 billion to the NDCCITMA designated bank for the immediate commencement of the entrepreneurs’ development programme.
“We have approved 5,000 businesses to kick-start this initiative, and we assure you that NDDC is poised to grow the region in commerce and trade.”
Ogbuku implored all contractors and vendors in NDDC to register with NDCCITMA by July 31, saying it would give them an added advantage to be considered for patronage by the commission.
Idaere Ogan, the NDCCITMA board chairman, also reaffirmed the chamber’s commitment to working with NDDC to transform the Niger Delta region.
Ogan said the chamber NDCCITMA aims to facilitate job creation, skills development, innovation, export growth, and productive partnerships across all sectors of the economy.
