NDDC and NDCCITMA Launch ₦1.5 Billion Soft Loan Scheme for 1,500 Small Businesses in Niger Delta

The Niger Delta Development Commission (NDDC), in partnership with the Niger Delta Chamber of Commerce, Industry, Trade, Mines, and Agriculture (NDCCITMA), has rolled out a ₦1.5 billion soft loan scheme to support 1,500 small and medium-scale businesses across the Niger Delta region.

This initiative, tagged the Investment Partnerships Scheme, is a major part of the NDDC’s broader Economic Development Initiative, designed to empower entrepreneurs in the nine oil-producing states and stimulate sustainable regional growth.

Loan Scheme Designed to Empower Local Entrepreneurs

During the flag-off ceremony held in Port Harcourt, the Chairman of NDCCITMA, Ambassador Idaere Gogo-Ogan, praised the NDDC for its strategic collaboration in promoting wealth creation, reducing unemployment, and supporting local enterprises.

He revealed that the loan comes with a one-year repayment plan and a three-month grace period (moratorium), with an interest rate of just 9% per annum. The soft loan covers various business categories, including nano, micro, small, and medium-scale enterprises, with the goal of helping local entrepreneurs expand their businesses and create jobs.

According to Gogo-Ogan, “We are grateful to the NDDC, led by its Managing Director, Dr. Samuel Ogbuku, for initiating this impactful programme. It is focused on helping the poorest of the poor — particularly nano and micro business owners — to grow their enterprises. Real development starts from the grassroots, and empowering small businesses ensures the economy grows organically.”

Breakdown of Loan Categories

The ₦1.5 billion soft loan has been carefully structured to suit different business sizes and financial needs. The categories include:

• Nano businesses: ₦200,000 each
• Micro businesses: ₦3 million each
• Small businesses: ₦7 million each
• Medium businesses: ₦20 million – ₦50 million each

Gogo-Ogan noted that the 9% annual interest rate translates to about 0.6% monthly, making it one of the most affordable financing options for small business owners in Nigeria today.

He added that all beneficiaries underwent proper profiling, with consultants engaged to ensure transparency and accountability in the selection and disbursement process.

₦2 Billion Second Phase Coming December 2025

While ₦1.5 billion has been released in the first phase, Gogo-Ogan confirmed that another ₦2 billion will be disbursed by December 2025 as part of the second batch. This continued investment is expected to deepen financial inclusion, reduce poverty, and promote sustainable entrepreneurship in the region.

He emphasized that empowering local entrepreneurs will go a long way in addressing unemployment, youth restiveness, and capital flight from the Niger Delta.

NDDC Encourages Responsible Use of Funds

The Director of Commercial and Industrial Development at the NDDC, Mrs. Lina Okara, explained that the initiative is part of the Commission’s long-term plan to drive economic diversification and sustainability within the oil-producing states.

She urged beneficiaries to use the funds judiciously, emphasizing that their success stories would determine the continuity and expansion of similar programmes in the future.

“Beneficiaries must apply these funds responsibly,” Okara said. “This opportunity is meant to strengthen your business operations and help empower others through job creation. When you grow, the community benefits.”

Boosting Economic Growth in the Niger Delta

The ₦1.5 billion loan project represents a renewed effort by the NDDC to empower small business owners, encourage entrepreneurship, and drive inclusive development in the Niger Delta.

Analysts say this initiative could boost GDP growth, attract private sector investments, and strengthen the non-oil economy, creating thousands of jobs across agriculture, manufacturing, and trade sectors.

The NDDC’s approach aligns with the Federal Government’s agenda to promote financial inclusion, microfinance access, and SME growth, which are essential for sustainable national development.

With another ₦2 billion set for release before the end of 2025, the Commission’s Investment Partnerships Scheme is expected to serve as a lifeline for struggling entrepreneurs and position the Niger Delta as a hub for small business innovation and job creation in Nigeria.