On Monday, Cross River State Governor, Prince Bassey Edet Otu, presented cheques worth ₦25 million each to 18 business owners affected by the recent SPAR fire incident at the Executive Chambers of the Governor’s Office in Calabar. The presentation was a critical lifeline to help the victims rebuild their businesses and restore their livelihoods. Governor Otu reaffirmed his administration’s commitment to supporting small and medium-sized businesses across the state.
Governor Otu acknowledged that accidents were sometimes unavoidable, but stressed that the most important consideration was how government responded to people affected by unfortunate circumstances. He emphasized that his administration places strong emphasis on supporting small businesses because of their contribution to the economy and the livelihoods of residents. This support is crucial in helping businesses recover from setbacks.
The Governor recalled the visit of the First Lady of Nigeria, Senator Oluremi Tinubu, to Cross River State on September 1, 2026, for the launch of the South-South Zone of the National Community Food Bank Programme. He noted that the visit produced positive multiplier effects beyond the immediate purpose of the programme. Otu expressed appreciation to the First Lady for her practical disposition and empathy.
Governor Otu commended President Bola Ahmed Tinubu for the people-centred focus of the Renewed Hope Agenda, saying the intervention would help alleviate the economic hardship faced by the affected families. He described the programme as giving hope to the hopeless, succour to the suffering, and protection to the oppressed and vulnerable in society. The Governor’s administration is committed to supporting initiatives that benefit the people.
Otu urged the beneficiaries to utilise the funds productively, stressing that the financial assistance should translate into sustainable livelihoods and the rebuilding of their businesses. He assured the beneficiaries that they would continue to receive encouragement and support as they work towards stabilizing and rebuilding their businesses. The financial lifeline provided is expected to have a positive impact.
The Governor expressed gratitude to the Federal Government for the intervention, noting that it would go a long way in reducing the anguish and economic burden on the affected families. He emphasized that his administration would continue to support small and medium-sized enterprises to thrive, recognizing the informal sector as the engine room of the economy. This support is vital for economic growth.
Otu encouraged entrepreneurs in the state to take advantage of government-supported business advisory services, soft loans and grants available through the ministry responsible for financing and enterprise development. He invited them to grow their businesses and improve their livelihoods by utilizing these opportunities. The government’s support is aimed at fostering a thriving business environment.
Key points
- Governor Otu presents ₦25 million cheques to 18 business owners affected by the SPAR fire incident.
- The intervention aims to help victims rebuild their businesses and restore their livelihoods.
- Governor Otu emphasizes his administration’s commitment to supporting small and medium-sized businesses.
