Applications can be submitted online via hmindustry.ng or through physical forms available across the 18 LGAs.
By TheInvestigator
The Minister of State for Industry, Trade and Investment, Senator John Owan Enoh, on Friday unveiled a ₦500 million Micro, Small and Medium Enterprises (MSME) intervention fund for entrepreneurs and artisans in Cross River State.
Announcing the initiative at the Nigeria Union of Journalists (NUJ) Press Centre in Calabar, Owan Enoh said the programme is a private effort, separate from federal or state government projects, and is targeted at empowering 1,000 beneficiaries in its initial phase.
“This intervention is a grant, not a loan,” he said. “It is meant to grow our economy, create jobs, and help artisans and young people build sustainable livelihoods, not to be diverted for politics or short-term needs.”
Under the scheme, formal businesses will apply through an online portal, while informal sector operators such as welders, food vendors, and roadside mechanics will use printed forms distributed across the 18 local government areas. Beneficiaries will receive between ₦100,000 and ₦500,000 each, depending on category, after completing a one-week entrepreneurship training in the three senatorial districts.
Journalist and activist Citizen Agba Jalingo, speaking on behalf of the implementation committee, assured that the fund would be managed transparently. He said disbursement would be done in four batches, with 150 formal and 325 informal sector beneficiaries in each batch, evenly spread across the state.
“This is not government money; it is a private initiative of the Minister,” Jalingo stressed. “Not a kobo will be stolen. Every naira will reach the people who need it most.”
Owan Enoh added that the programme complements federal and state efforts to boost MSMEs, noting the ₦500 billion set aside in the 2025 budget for the Bank of Industry to sustain single-digit loans, and Governor Bassey Otu’s ₦1 billion counterpart fund to the BoI for Cross River businesses.
He also highlighted federal projects such as free trade zone investments and new automotive training centres being established by the National Automotive Design and Development Council (NADDC), which he said will help strengthen the state’s private sector.
Stakeholders including the Calabar Chamber of Commerce, Industry, Mines and Agriculture (CALCCIMA) and the Microfinance and Enterprise Development Agency (MEDA) pledged support for the initiative.
Applications can be submitted online via hmindustry.ng or through physical forms available across the 18 LGAs.