Cross River Launches ₦500 Million Fund to Empower Local Entrepreneurs

The Cross River State government has released ₦500 million in financial support to local business owners as part of efforts to strengthen entrepreneurship and boost the state’s economy.

At a ceremony in Calabar, Governor Bassey Otu explained that the funds are aimed at helping small and medium-sized enterprises grow, create jobs, and improve household incomes.

The initiative is part of a broader strategy to build economic resilience, encouraging innovation and inclusive growth for residents. Beneficiaries include entrepreneurs from various sectors, each receiving funding to expand or start their businesses.

Government officials confirmed that training and verification processes were conducted before funds were disbursed, ensuring that the support reaches genuine business operators who are ready to use the money productively.