The Niger Delta Development Commission (NDDC) has released N10 billion to the Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) to stimulate entrepreneurship and economic growth in the region.

The Managing Director of NDDC, Dr. Samuel Ogbuku, announced this at the inauguration of the board of NDCCITMA directors in Port Harcourt on Friday.

Ogbuku explained that the N10 billion was an initial deposit of the N30 billion promised by the commission to invest in the chamber in order to kick start the entrepreneurship development programme.

“Earlier, I did mention that the commission will be investing N30 billion in the Enterprise Development scheme to be managed by NDCCITMA to support the entrepreneurs in our region from the NANO, Micro to the small-scale level.

“I am here to reaffirm that promise, we shall make good the promise by releasing N10 billion to the NDCCITMA designated bank for immediate commencement of the entrepreneur’s development programme.

“We have approved 5,000 businesses to kick-start this initiative, and we assure you that NDDC is poised to grow the region in commerce and trade,” Ogbuku said.

He urged all contractors and vendors in NDDC to register with NDCCITMA by July 31.

Ogbuku said that the registration would be an added advantage for consideration of patronage by the commission.

In his remark, Mr Idaere Ogan, the Board Chairman of NDCCITMA, reaffirmed the chamber’s readiness to work with NDDC to achieve its vision of transforming the Niger Delta region.

Ogan stated that NDCCITMA aimed at facilitating job creation, skills development, innovation, export growth, and productive partnerships across all tiers of the economy.(NAN)