NDDC Pledges N30bn To Empower Niger Delta Youth Entrepreneurs

The Niger Delta Development Commission (NDDC) has announced a significant investment in youth entrepreneurship, pledging a N30 billion counterpart fund to boost the Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA).

The announcement was made by NDDC Managing Director Dr. Samuel Ogbuku during an interview at the commission’s headquarters.

Dr. Ogbuku emphasised the NDDC’s commitment to sustainable economic empowerment in the region.

He highlighted the crucial role of NDCCITMA in providing training, support for Small and Medium-sized Enterprises (SMEs), and developing industry-relevant skill development programs.

The N30 billion, earmarked in the 2024 budget, will be released as matching funds to support projects and businesses under the chamber’s purview.

“We are providing N30 billion to fund projects and support businesses to ensure the sustainability of our youth development initiatives,” Dr. Ogbuku stated.

He stressed that this funding aims to move beyond simply providing stipends, instead fostering a climate where young people can build viable businesses and create jobs.

The initiative aims to tackle youth unemployment and contribute to regional peace and stability.

The NDDC is collaborating with the Bank of Industry (BOI) to ensure the program’s success, employing a strategy focused on supporting genuine entrepreneurs with verifiable data, unlike previous less documented efforts.

The focus is on assisting university graduates and others who cannot rely solely on government employment.

Eligibility for the funding is contingent upon membership in the NDCCITMA, which covers all nine Niger Delta states. Dr. Ogbuku further clarified that the application process for the NDDC Youth Internship Scheme is nearing completion, with the final list of beneficiaries expected within the next few weeks.

Payments to the successful interns will commence in January 2025. The scheme will provide one-year attachments to organisations, allowing youths to gain practical skills and experience.

The NDDC is working to ensure a simultaneous start for all skill sectors within the internship program.