A Niger Delta Micro, Small and Medium Enterprise initiative distributed business support grants worth N3 million to three young entrepreneurs in Bayelsa State. The event, held in Yenagoa, was part of a broader programme aimed at enhancing the role of MSMEs in driving sustainable growth and innovation within the region.
Each of the winners received one million naira to support the startup and expansion of their businesses. The initiative was organised in collaboration with local business development partners to provide financial support and mentorship to young entrepreneurs.
Read also: SMEs urged to strengthen digital capacity for global reach
Government participation
Governor Douye Diri attended the programme and emphasised the importance of entrepreneurship in the economic development of the Niger Delta region. He stated that initiatives like these encourage resilience and innovation among small business owners and help reduce dependence on government jobs.
The governor said, “Supporting MSMEs is central to our development agenda. We recognise that young entrepreneurs are key to economic growth, and this programme ensures they receive both financial and advisory support.”
Read also: Nigerian SMEs urged to explore alternative financing beyond bank loans
Impact on SMEs
The grant programme is expected to provide a boost to the recipients’ businesses, enabling them to increase production, improve services, and create employment opportunities. The initiative also aims to encourage other young entrepreneurs in the region to participate in formal business structures and seek support through similar programmes.
Read also: Egbesola outlines new policy tools, funding windows for SME expansion
Broader significance
The initiative reflects ongoing efforts in Nigeria to strengthen MSMEs, which play a critical role in job creation and economic diversification. By targeting young entrepreneurs, the programme seeks to build a pipeline of businesses that can grow sustainably and contribute to regional development.
The organisers noted that continued support for MSMEs is essential to foster innovation, maintain business continuity, and expand access to financial resources. They confirmed plans to scale the initiative and reach more entrepreneurs across the Niger Delta in future editions.
