The Niger Delta Development Commission (NDDC), in collaboration with the Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA), has released N1.5 billion in soft loans to 1,500 nano, micro, small, and medium enterprises (MSMEs) across the Niger Delta.
The initiative, part of the Investment Partnerships Scheme, is designed to promote grassroots economic growth and wealth creation in the nine oil-producing states of the region.
Speaking at the Port Harcourt launch, NDCCITMA Chairman, Ambassador Idaere Gogo-Ogan, said the loans carry a 9% annual interest rate with a three-month moratorium, structured to support businesses from the nano to medium scale.
“Sustainable development begins from the bottom up, and when you empower small enterprises, the economy grows organically,” he explained.
The scheme provides loans in four categories: Nano businesses – N200,000 each, Micro businesses – N3 million each, Small businesses – N7 million each, and Medium businesses – N20 million to N50 million each. A second phase of N2 billion is slated for December 2025.
Mrs. Lina Okara, Director of Commercial and Industrial Development at NDDC, advised beneficiaries to manage the funds responsibly to maximise impact on job creation, poverty reduction, and regional stability.
She stressed that accountability is key to sustaining the programme’s benefits.
The soft loan initiative represents a strategic move to stimulate entrepreneurship, expand financial inclusion, and tackle youth unemployment in the Niger Delta, reinforcing the NDDC’s broader mandate for sustainable regional development.