In a bid to reposition senior citizens in Cross River as active players in the State’s economy, Governor Bassey Otu, has officially launched the Retiree Entrepreneurship Development Initiative (REDI), and disbursed ₦250 million in grants to 500 retirees to establish small and micro-scale businesses.
The Governor, who was represented by his Deputy, Mr Peter Odey, flagged off the grant disbursement ceremony in Calabar, reaffirming his administration’s commitment to inclusive development and social equity.
He noted that the initiative aligns with his administration’s “People First” agenda, which prioritizes human capital development, economic inclusion, and sustainable livelihoods, describing the initiative as an “expanded reciprocity” for retirees who dedicated their most productive years to the State’s service.
“This government values our retirees and is committed to ensuring they remain economically relevant. Through REDI, we provide not just financial support but also the entrepreneurial training necessary to thrive in private enterprise,” the Governor stated.
Governor Otu explained that the disbursement represents the first phase of the initiative, with subsequent phases scheduled to roll out in the Central and Northern Senatorial Districts.
He also assured retirees of continued government support, including access to soft loans through the Cross River State Microfinance and Enterprise Development Agency (MEDA).
Governor Otu revealed that his administration has prioritized the welfare of retirees, ensuring prompt monthly pension payments and reducing a 14-year backlog of unpaid gratuities to just four years. He also highlighted the enactment of the Cross River State Senior Citizens Centre Law, which provides for the establishment of specialized wellness and support centres in Calabar, Ikom, and Ogoja.
“My administration is for everyone, especially the vulnerable. With your continued prayers and support, we will build a prosperous and resilient State that future generations will be proud to inherit,” he affirmed.
In his remarks, Director General of Microfinance and Enterprise Development Agency, Mr. Great Ogban, described the Retiree Entrepreneurship Development Initiative as a transformative pillar of Governor Otu’s “People First” vision.
He recounted the successful graduation of 500 retirees in June from an intensive entrepreneurship training programme, culminating in the current disbursement of grants.
“This initiative is not just about financial empowerment; it is a catalyst for economic regeneration. Each nano-business seeded through REDI will create jobs, stimulate local economies, and inspire others,” Ogban said.
He further announced that the next phase of the initiative would train and empower 1,000 additional retirees, 500 each from the Central and Northern Senatorial Districts, thereby scaling up the economic impact across the State.
The event drew the presence of labour leaders, affiliate unions, senior government officials, and public-spirited individuals, who commended the programme as a rare demonstration of strategic compassion and sustainable governance.
