Otu pledges support for business growth in Cross River

Governor Bassey Otu of Cross River State has reaffirmed his administration’s commitment to enhancing the State’s socio-economic growth and development by fostering a conducive environment for entrepreneurship and business growth.

Represented by Peter Odey, his deputy, while receiving in audience, Charles Odii, Director General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) at Government House in Calabar, Governor Otu, highlighted the vital role that Small and Medium Enterprises (SMEs) play in driving State Development, emphasizing their importance within his administration’s ‘People First’ agenda.

He emphasized the efforts of the Cross River State Microfinance and Enterprise Development Agency (MEDA), led by Great Ogban, and stressed the need for collaboration with SMEDAN to maximize the contributions of SMEs in job creation, economic revitalization, and expanding economic opportunities for the citizens of Cross River State.

The governor also notedbthat his administration was actively developing strategies to empower small business owners by leveraging local content policies to help their businesses thrive.

He commended Charles Odii for his dedication to engaging young people in productive activities and providing crucial support for their creative and income-generating endeavors.

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“The only way to build a sustainable and globally competitive economy is through serious commitment, and as a government, we are fully committed to this partnership and future collaborations”, the governor said.

Speaking earlier, Charles Odii, SMEDAN’s Director-General, appreciated the Cross River State Government for its efforts in strengthening SME activities through MEDA, providing necessary support and financial services to boost their operations.

He highlighted SMEDAN’s role in Nigeria’s economic growth and development, noting that the Micro, Small, and Medium Enterprises (MSMEs) ecosystem in Nigeria comprises approximately 40 million businesses, with 38 million classified as nano businesses, primarily youth-led and youth-owned.

Odii explained that with proper guidance, improved resources, and adequate opportunities as well as workforce support, nano businesses have the potentials to grow into major enterprises.