Sat, 28 Dec 2024
The Niger Delta Development Commission, NDDC, has pledged to releasing it N30 billion counterpart fund to the Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture, NDCCITMA, to support the development of young entrepreneurs.
NDDC Managing Director, Dr Samuel Ogbuku, who disclosed this in Port Harcourt, reiterated the Commission’s mandate and commitment to ensuring that people of the region are empowered through economic initiatives and programmes.
Ogbuku, emphasized NDCCITMA’s role in.designing industry-friendly skill development programmes and training youths, supporting SMEs
He said NDDC was partnering with NDCCITMA to drive economic growth and development in the Niger Delta region by providing financial support, training and networking opportunities for businesses and entrepreneurs.
“We are providing N30 billion to fund projects and support businesses to ensure the sustainability of our youth development initiatives.
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“We will release the matching funds so the entrepreneurs can access them to boost their businesses. In our 2024 budget, we have provision for N30 billion which we are to use as matching funds for the chamber of commerce. We are working towards releasing this fund so that the chamber of commerce can start work in earnest.
Ogbuku noted that the Commission was also collaborating with the Bank of Industry, BOI, to ensure the success of NDDC’s youth development programmes.
“The current NDDC Board and Management choose to look at sustainable options in designing youth programmes. In the past, we did a lot in supporting entrepreneurs in the Niger Delta but these activities were not properly documented and backed with verifiable data.
“Our new strategy is to support genuine entrepreneurs rather than people who are just portfolio entrepreneurs because we know that the government alone cannot employ everybody.”
