Governor Douye Diri of Bayelsa State has approved an interest-free loan of ₦740 million for two young entrepreneurs as part of a broader initiative to empower youth and promote local enterprise.
The funding, announced during the launch of the Bayelsa E-Commerce Entrepreneurship Programme (BEEP) in Yenagoa, includes ₦240 million for Mrs. Tare Korumene, CEO of ECO FIP Nigeria Ltd, and ₦500 million for Mr. Winsome Dan-Adere. Korumene’s “Bayelsa Dunaly Hair” brand manufactures organic hair extensions from plantain stems, while Dan-Adere recycles plastic waste into interlocking blocks.
The loans will be disbursed through Premium Trust Bank, with the state’s Commissioner for Finance to finalize disbursement modalities. The governor said the support would inspire youth entrepreneurship, reduce poverty, and contribute to wealth creation across the state.
“We are shifting from oil dependency to innovation and commerce,” Diri said while addressing 500 young entrepreneurs. “This support will encourage local innovation and strengthen our economy. Our youths must be job creators, not job seekers.”
He added that the initiative would be held annually and announced that the state is partnering with the National Information Technology Development Agency (NITDA) to facilitate global e-commerce access for Bayelsa-based businesses.
NITDA Director-General Kashifu Abdullahi, in his keynote address, said the BEEP is designed to transform Bayelsa into a hub for innovation, digital literacy, and entrepreneurship, aiming for 95% digital literacy in the state by 2030.
The governor also revealed plans for a new ICT hub in Yenagoa, full integration of Artificial Intelligence into the school curriculum, and ongoing efforts to ensure uninterrupted power supply via new gas turbines by year-end.
Special Adviser on Trade and Investment, Owanari Harry, noted that BEEP will support 500 nano, micro, and small enterprises with capital, mentorship, training, and market access, leveraging global partnerships for sustainable growth.
The initiative is part of the state government’s broader commitment to drive prosperity through local commerce and innovation under the theme “Made in Bayelsa, Sold to the World.”