ABOUT TWO THOUSAND ENTREPRENEURS BECOME PIONEER BENEFICIARIES OF NDCCITMA FINANCIAL SUPPORT SCHEME IN RIVERS STATE
BY GABRIEL OKECHUKWU
About two thousand business men and women have received financial support from Niger Delta Chambers of Commerce Industry Trade Mines and Agriculture NDCCITMA, investment partnership Scheme for business growth.
Speaking at the Flag-off of the first phase in Port Harcourt Rivers State, Chairman, Niger Delta Chambers of Commerce, Ambassador Idaere Gogo- Ogan explained that Niger Delta Development Commission NDDC set up the Chambers to enhance economic development of Niger Delta region.
With the dole out of one point five billion naira to kick off the first phase of Investment partnership Scheme by Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture, NDCCITMA, the vision of Niger Delta Development Commission NDDC to grow the Economy of the region has received a big boost.
The loan scheme is in four categories of nano business, where beneficiaries are entitled to receive two hundred thousand naira, Micro business, three million naira, Small scale businesses, seven million naira; while medium scale businesses would receive twenty Million naira and above.
It is heartwarming to note that the loan scheme has a single digit of nine percent interest rate and three months moratorium, a kind of holiday before repayment commences.
Speaking at the flag off in Port Harcourt Rivers State, Chairman,
Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture, NDCCITMA,
Ambassador Idaere Gogo- Ogan acknowledged that the initiative by NDDC through the Chamber of Commerce to support entrepreneurship in the region via revolving loan scheme, would lift many out of poverty.
Ambassador Gogo-Ogan explained that the initiative with main focus on lifting those at lowest ebb would entail mentoring of beneficiaries on business growth strategies.
According to him, there was enough sensitization about the scheme across the region and the beneficiaries underwent mentoring stages to equip them for business expansion.
“Transformative effects will be so enormous that there Will be job creation and poverty eradication.
Militancy and violence will be a thing of the past.”
In December the second batch will begin, which is about two billion naira.”
Similarly, Director, Commercial and Industrial Development NDDC cum Chairman of the Implementation Committee, Mrs. Lyna Okara who stated that NDDC set up the Chamber to grow the Economy of the region, encouraged the beneficiaries to leverage on the opportunity to boost their businesses.
“To be responsible and accountable, whatever funding you are getting is to help your business multiply.
When you have this kind of opportunity and support from an institution such as NDDC, use it wisely.”
Mrs. OKARA gave assurance of security and sustainability of the scheme.
Some of the beneficiaries while expressing Joy over the gesture, described the move as unprecedented.
The respondents promised to make judicious use of the funds .
High point of the event was the presentation of cheques to beneficiaries.
