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Cabinet officials

JOE-MSME Support Initiative to Boost Economic Growth in Cross River State

Strategic Insights

— 1 min read

The Nigerian government has launched a comprehensive initiative to support the growth of micro, small, and medium-sized enterprises (MSMEs) in Cross River State. The JOE-MSME Support Initiative, launched by Minister of State for Trade and Industry Senator John Owan-Enoh, aims to provide financial support and technical assistance to over 1,000 MSMEs across the state. This intervention is a private effort to boost the local economy and contribute to the nation's alternative economy.

Key Takeaways:

  • The JOE-MSME Support Initiative is a private intervention aimed at boosting the growth of MSMEs in Cross River State, with a focus on creating employment and lifting struggling businesses out of economic difficulties.
  • The initiative will provide grants to selected beneficiaries, ranging from N100,000 to N500,000, as well as technical assistance from strategic partners such as the National Automotive Design and Development Council (NADDC) and the Microfinance and Enterprise Development Agency (MEDA).
  • The minister responsible for the initiative, Senator John Owan-Enoh, emphasized the importance of MSMEs in economic growth, noting that they are the greatest employers of labour globally.
  • Strategic partner institutions such as the National Automotive Design and Development Council (NADDC) and the state-owned Microfinance and Enterprise Development Agency (MEDA) will provide technical assistance to beneficiaries.
  • Senator Owan-Enoh reiterated the significance of the interventions of President Bola Tinubu and Governor Bassey Otu of Cross River State, who have allocated billions of naira in grants for different categories of businesses.
  • Prominent social activist Agba Jalingo has been mandated to select beneficiaries across the state.
  • The initiative aims to sustain the support effort, with beneficiaries presenting proposals for funding.
  • Senator Owan-Enoh strongly condemned the practice of importing starter packs or equipment only to resell them and plunge further into the crevices of poverty.

Statistics:

  • Over 1,000 MSMEs in Cross River State will receive financial support from the JOE-MSME Support Initiative.
  • Beneficiaries will be required to present proposals for funding that range from N100,000 to N500,000.
  • The initiative aims to impact 18 local government areas of the state.

Sources:

  • (Voice of Nigeria) "Owan-Enoh Unveils New Empowerment Scheme for MSMEs," August 29, 2025.
  • [Note: No additional sources cited in the original text.]

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