KEY POINTS
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NDDC and NDCCITMA launch ₦1.5bn soft loan scheme for small businesses.
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Loans attract 9 percent annual interest with a three-month grace period.
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Second phase worth ₦2bn planned for December 2025.
The Niger Delta Development Commission, in partnership with the Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture, has rolled out ₦1.5 billion soft loans to support 1,500 small and medium-scale enterprises across the region. The initiative is part of a broader plan to strengthen entrepreneurship and create jobs in the oil-producing states.
NDDC ₦1.5bn soft loans reach 1,500 firms
The scheme, called the Investment Partnerships Scheme, operates under the broader “Economic Development Initiative” across the nine Niger Delta states.
During the launch of the first phase in Port Harcourt, NDCCITMA Chairman, Ambassador Idaere Gogo-Ogan, commended the NDDC’s commitment to collaboration. He noted that the partnership with the private sector aims to drive wealth creation and support sustainable grassroots economic development.
Furthermore, Gogo-Ogan explained that the soft loans include a one-year repayment window and a three-month grace period. He added that the facility attracts a nine percent annual interest rate, making it accessible and affordable for local entrepreneurs.
The fund focuses on supporting traders, small business owners, and others who often struggle to access conventional financial institutions.
“We are deeply grateful to the Niger Delta Development Commission, led by Dr. Samuel Ogbuku, for initiating this programme,” Gogo-Ogan said. “It is designed to reach the poorest of the poor. Sustainable growth begins from the bottom up, and empowering micro and small enterprises strengthens the entire economy.”
Second phase of NDDC ₦1.5bn soft loans set for December
He detailed that nano businesses are receiving ₦200,000 each, micro businesses ₦3 million, and small businesses ₦7 million. The current ₦1.5 billion disbursement marks the first phase, while another ₦2 billion will be released in December 2025. Gogo-Ogan noted that every beneficiary underwent due diligence to ensure transparency and accountability.
He added that broadening financial access would help curb unemployment and youth restiveness, while improving regional stability. “We believe this intervention will create jobs, reduce poverty, and strengthen peace in the Niger Delta,” he said.
According to Vanguard, NDDC’s Director of Commercial and Industrial Development, Lina Okara, said the initiative aligns with the Commission’s mission to promote sustainable development. She urged recipients to apply the funds responsibly and build businesses capable of lifting others.
“Beneficiaries must use these funds prudently,” Okara said. “Success here will determine how many more entrepreneurs benefit in the next round.”
The ₦1.5 billion initiative underscores the Commission’s growing focus on entrepreneurship as a driver of inclusive economic recovery in the Niger Delta.
