No fewer than 5,350 micro, small and medium enterprises (MSMEs) and local entrepreneurs across Cross River State have benefited from various government interventions aimed at strengthening businesses and stimulating economic growth.

The Director-General of the Cross River State Micro Enterprise Development Agency (MEDA), Great Ogban, disclosed this during the Manufacturing and MSME Town Hall Meeting held at the Dome, Calabar Municipality Garden.

He said the interventions covered the state’s three senatorial districts, with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) training 2,500 participants, while another 2,000 people benefited from a separate programme.

Ogban added that 500 beneficiaries under the latter initiative received grants of ₦500,000 each, noting that recipients were using the financial assistance and acquired skills to expand their businesses.

He further disclosed that local enterprises had accessed a ₦200 million MSME intervention, single-digit interest loans and ₦50,000 grants facilitated through SMEDAN and the Bank of Industry.

The MEDA chief also commended Governor Bassey Otu for providing 1,000 free Corporate Affairs Commission business registration opportunities to reduce the cost of formalising businesses in the state.

He called for sustained cooperation between the Federal and State Governments to strengthen enterprise development and ensure the continuity of support programmes.

The Minister of State for Industry, Senator John Owan-Enoh, who attended the meeting, described MSMEs as central to Nigeria’s economic growth and announced plans for additional industrial projects in Cross River.

These include a proposed electric bicycle assembly plant, an automotive-related project on 75 acres of land in Calabar and an automotive training centre being developed by the National Automotive Design and Development Council.

Enoh said discussions were ongoing with Governor Otu on the proposed location of the electric bicycle plant ahead of a meeting scheduled for November 10.

He also disclosed that more than 2,000 residents across the state’s 18 local government areas were benefiting from Federal Government grants, mentorship through the National Information Technology Development Agency and digital business development programmes.

The minister unveiled a document detailing the Tinubu administration’s reported achievements in the manufacturing and MSME sectors since May 2023, urging residents to support its continuation beyond 2027.

The town hall brought together entrepreneurs, business owners and other stakeholders to discuss financing opportunities, industrial development and ways to strengthen small businesses in the state.