The Cross River State Government, under Governor Senator Bassey Otu, has launched a significant initiative to empower its senior citizens.
Through the Retiree Entrepreneurship Development Initiative (REDI), a substantial ₦250 million in grants has been disbursed to 500 retirees, marking a new chapter of economic inclusion.
Each beneficiary received ₦500,000 to establish small and micro-scale businesses, a strategic move aimed at re-engaging retirees as active contributors to the state’s economy.
The official launch, held in Calabar, underscores the administration’s “People First” agenda, prioritizing human capital development and sustainable livelihoods.
Governor Otu described REDI as an “expanded reciprocity,” acknowledging the invaluable service of retirees.
He emphasized that the initiative not only provides financial support but also crucial entrepreneurial training, aligning with his administration’s commitment to ensuring retirees remain economically relevant.
This initial disbursement is just the first phase, with subsequent phases planned for the Central and Northern Senatorial Districts.
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Retirees will also have access to soft loans facilitated by the Cross River State Microfinance and Enterprise Development Agency (CRSMEDA), further solidifying the government’s long-term support.
The Otu administration has made retiree welfare a top priority since taking office.
This commitment is evident in the prompt payment of monthly pensions and the significant reduction of a 14-year backlog of unpaid gratuities to just four years.
Furthermore, the enactment of the Cross River State Senior Citizens Centre Law will lead to the establishment of specialized wellness and support centers, demonstrating a holistic approach to caring for senior citizens.
These actions collectively highlight the administration’s dedication to building a prosperous and resilient state for all.
the Director General of CRSMEDA, Mr. Great Ogban, who played a pivotal role in the success of REDI, described it as a transformative pillar of Governor Otu’s “People First” vision.
He highlighted the successful graduation of 500 retirees from an intensive entrepreneurship training program that preceded the grant disbursement.
Ogban emphasized that this initiative goes beyond financial empowerment, serving as a catalyst for economic regeneration, with each new business expected to create jobs and stimulate local economies.
Looking ahead, CRSMEDA plans to train and empower an additional 1,000 retirees in the next phase, amplifying the program’s economic impact across the state.
The positive reception from beneficiaries, such as Mrs. Florence Oluohu who expressed profound gratitude for a “new lease of life,” underscores the program’s immediate impact.
The event garnered widespread commendation from various stakeholders, recognizing REDI as a remarkable demonstration of strategic compassion and sustainable governance.
This landmark initiative by the Otu-led administration firmly establishes its commitment to rebuilding Cross River State by upholding the dignity and recognizing the enduring contributions of all its citizens, past and present.
