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NDDC Launches ₦30 Billion Fund to Boost Young Entrepreneurs in Niger Delta

Published by admin on December 29th, 2024.

NDDC Launches ₦30 Billion Fund to Boost Young Entrepreneurs in Niger Delta

The Niger Delta Development Commission (NDDC) has unveiled a ₦30 billion initiative aimed at promoting youth entrepreneurship in the Niger Delta region. The funds will be managed through the Niger Delta Chamber of Commerce, Industry, Trade, Mines, and Agriculture (NDCCITMA), with the goal of fostering growth and supporting young business owners in the area.

Dr. Samuel Ogbuku, Managing Director of the NDDC, made the announcement during a recent interview, emphasizing the Commission’s commitment to empowering youth through economic initiatives, including training programs and support for Small and Medium Enterprises (SMEs).

Supporting Sustainable Enterprises

Dr. Ogbuku highlighted the importance of ensuring that funds are directed towards legitimate businesses. He acknowledged that while the government cannot employ everyone, it is focused on creating an environment that encourages entrepreneurship.

Additionally, he spoke about the NDDC Youth Internship Scheme, which aims to provide young people with practical experience by connecting them with organizations for on-the-job training. The scheme is expected to roll out in January 2025, with the consultant handling the application process working to streamline entries.

Successful applicants will be notified soon, and the initiative is expected to play a key role in fostering economic growth and stability in the region by engaging youth in productive activities and supporting entrepreneurship.

About the NDDC

Founded by the Federal Government in 2000, the NDDC’s primary mission is to drive development in the South-South region, with a particular focus on youth training and empowerment. Over the years, the Commission has launched several programs to support the region’s human capital and infrastructure development.

Notable initiatives include:

Foreign Postgraduate Scholarship Programme (2024/2025): Launched in April 2024, this scholarship program targets young people from the Niger Delta seeking to pursue postgraduate studies abroad. It aims to develop skilled professionals in fields such as Engineering, Information Technology, Medical Sciences, Law, and more, to enhance participation in the federal government’s local content initiatives and to compete globally.

Infrastructure Projects: In May 2024, the NDDC announced plans to inaugurate 92 infrastructure projects worth over ₦84 billion across five states. These projects are part of the Commission’s comprehensive strategy to drive sustainable development in the region and transform it into an economic hub.

With these initiatives, the NDDC is working to create a robust framework for economic prosperity, engaging youth in meaningful work and supporting the growth of the Niger Delta as a thriving, self-sufficient region.