The Niger Delta Development Commission (NDDC) has announced a significant initiative to support young entrepreneurs in the region, pledging a counterpart fund of ₦30b to the Niger Delta Chambers of Commerce, Industry, Trade, Mines, and Agriculture (NDCCITMA).
The NDDC Managing Director, Dr. Samuel Ogbuku, shared this development during a press briefing at the commission’s headquarters. He emphasized the NDDC’s commitment to empowering the region’s youth through financial support, training, and sustainable entrepreneurship programs.
“We are providing ₦30b to fund projects and support businesses, ensuring the sustainability of our youth development initiatives,” Dr. Ogbuku stated. He noted that the funds, included in the 2024 budget, aim to provide young entrepreneurs with access to resources necessary for expanding their businesses and contributing to the region’s economic growth.
The initiative is part of a broader collaboration with the Bank of Industry to facilitate the commission’s youth development programs. Dr. Ogbuku highlighted the importance of targeting genuine entrepreneurs and fostering structured business development to address unemployment in the Niger Delta.
“Our strategy is to empower budding entrepreneurs who can create jobs for others rather than supporting portfolio entrepreneurs. The government alone cannot employ everyone, but we can create an enabling environment for sustainable growth,” he explained.
The NDCCITMA initiative will cover all nine states of the Niger Delta region, providing resources and networking opportunities for businesses. Dr. Ogbuku stressed that prospective beneficiaries must be registered members of the Chamber of Commerce to access the support.
In addition to financial aid, the NDDC is advancing its Youth Internship Scheme, aimed at training and equipping young people with diverse skill sets. Successful applicants will undergo a one-year internship with partner organizations, gaining practical experience and enhancing their employability.
“We aim for a seamless takeoff of the program, with all skill areas commencing simultaneously. Beneficiaries will be notified promptly, and payments are set to begin in January 2025,” Dr. Ogbuku assured.
He underscored that engaging youths in meaningful ventures is key to maintaining peace in the region. “We cannot allow our young people to roam the streets. By supporting their entrepreneurial ambitions, we can create opportunities for them to thrive while contributing to regional stability.”
The initiative reflects the NDDC’s dedication to sustainable development in the Niger Delta, promoting self-reliance and reducing youth unemployment through targeted economic empowerment programs.
