Governor Otu disburses N250m grant to 500 seniors to start msme businesses in Cross River
Cross River State Governor, Senator Bassey Otu has reiterated his administration’s commitment to inclusive economic development and social justice with the official launch and disbursement of N250 million in grants to 500 retirees under the Retiree Entrepreneurship Development Initiative (REDI).
Otu who was represented at the event by his Deputy, Rt. Hon. Peter Odey, made the declaration during the REDI grant disbursement ceremony held at Hogis Royale Hotel, Calabar, on Wednesday, July 23, 2025. Each beneficiary received N500,000 grant to begin a micro or small-scale business. This gesture signifies a bold step by Otu administration to reposition senior citizens as active contributors to the state’s economy.
And describing the initiative as “expanded reciprocity” for those who committed their prime years to public service, Governor Otu said REDI was part of his broader vision to promote human capital development and economic empowerment under his “People First” agenda.
“This government recognizes the value of our retirees and seeks to reintegrate them into productive life. The REDI programme offers both skills training and funding support to help them transition from public service to private enterprise,” Otu stated.
He noted that the disbursement marks the first phase of the programme designed to be replicated in the central and northern senatorial districts in the coming months. Governor Otu also assured beneficiaries of continued support through the state’s Microfinance and Enterprise Development Agency (MEDA), including access to soft loans for business expansion.
Since assuming office, the Governor revealed he has prioritized pension payments ahead of other expenditures, while significantly reducing the backlog of gratuities from 14 to just 4 years. He said his administration is also working on the harmonization of pensions and has signed into law the Cross River State Senior Citizens Centre Bill, which will establish care and support facilities for retirees in Calabar, Ikom, and Ogoja.
“My administration is for everyone, especially the vulnerable. With your support and prayers, we will continue to build a healthy, prosperous state our children will be proud to inherit,” he said.
Director General of MEDA, Mr. Great Ogban, described the REDI programme as a transformative component of the governor’s “People First” blueprint. He recounted how in June, 500 retirees graduated from a specialized entrepreneurship training course, and just one month later, the promise of financial empowerment has been fulfilled.
“This is more than money—it is the planting of seeds for economic revival. Each retiree’s business will create jobs, strengthen local economies, and inspire community growth,” Ogban said.
He announced that the next phase of the programme will target 1,000 additional retirees, 500 each from the central and northern senatorial districts.
One of the beneficiaries, Florence Oluohu, who spoke to journalists at the event, expressed deep appreciation to Governor Otu for giving retirees a fresh opportunity at self-reliance. “This is a new lease of life. Many of us now have the resources and skills to start something meaningful. We ask that this programme be expanded to include more retirees who need such support,” she said.
The event congregated labour leaders, affiliate bodies, senior government officials and public-spirited individuals who lauded the initiative as a rare show of commitment to the welfare of retired public servants. They noted that the REDI programme redefines retirement as a stage for renewal, not redundancy.
By: Archibong Emmanuel
(Snr. Reporter)
