Minister John Enoh Unveils ₦500m Fund to Boost Cross River Entrepreneurs

The Minister of State for Industry, Trade and Investment, Senator John Enoh, has launched a ₦500 million empowerment fund aimed at supporting small businesses and artisans in Cross River State.

Unveiling the scheme in Calabar, Senator Enoh described it as a personal initiative designed to assist over 1,000 beneficiaries in its first phase. Unlike government-backed programmes, the intervention is privately funded and tailored to both formal and informal sectors.

“This initiative was born out of a sincere responsibility to society,” he said. “It is a grant, not a loan. The goal is to stimulate the economy, create jobs and help young people and artisans build sustainable livelihoods not to fund political agendas or immediate consumption like paying rent.”

Support Across Sectors
Under the programme, structured businesses will apply online, while artisans such as welders, food vendors, mechanics, and traders will access physical forms distributed across the 18 local government areas.

The implementation will be carried out in four batches, with 150 formal businesses and 325 informal workers selected from each round.

Transparency Pledge
Activist and journalist Agba Jalingo, speaking on behalf of the implementation committee, assured that every kobo would be accounted for.
“This is not government money; it is the Minister’s private initiative,” Jalingo said. “Not a dime will be stolen. Our duty is to ensure the funds reach those who need them most.”

Partnerships and Alignment
The scheme, according to Enoh, aligns with President Bola Tinubu’s Renewed Hope Agenda, which prioritises industrial growth, economic reforms and manufacturing. Stakeholders including the Calabar Chamber of Commerce and the Microfinance and Enterprise Development Agency have pledged their support.

Applications are now open via hmindustry.ng, while artisans without internet access can apply using printed forms.

The initiative has drawn widespread commendation, with many hailing it as a model for private-public collaboration in driving entrepreneurship and economic growth in Nigeria.