By: Edem Archibong, Calabar
The Cross River State Governor, Senator Prince Bassey Edet Otu has reaffirms his sincere commitment to ensure an inclusive economic development of the state with adoption of social justice system through the launching and disbursement of lifeline sum of N250 million Grant to 500 retirees under Retirees Entrepreneurship Development Initiative (REDI).
Governor Otu who was represented by his Deputy, RT. HON.Peter Odey made the declaration in Calabar during the presentation of REDI Grant disbursement ceremony to each of the beneficiary who received the sum of N500,000.00 to enhance them commence Micro Small -Scale business in effort to reposition the state’s Senior Citizens as active contributors to the state’s economy.
He also describes the event as being an “expanded reciprocity” for the Senior Citizens for their commitment since their prime years of endeavor to serve the public is part of his administration’s broad vision to promote human capital development through the mantra of “people first” agenda.
The “people’s first” Governor further explained that his tenure of governance recognize the value of our retirees and that’s why he seek to reintegrate them into more productive life. This becomes the reason the REDI program was set up to offers them both the skills training and the finding support to assist them be able to transit from public service to become private individuals.
On this reason, the exercise of this disbursement marks the first phase of the program in the state, others will be replicated in the remaining two Senatorial Districts while assuring other retirees that through the state’s Microfinance and Enterprise Development Agency (MEDA), they will be given access to soft loans for their business growth and expansion.
Governor Otu also claims that his administration has prioritize the payment of pension ahead of other expenditures since inception of his tenure and also reduce the backlog of gratuities he inherited from his predecessors for 14years to now becomes four years only. This is why his administration is working very hard to harmonization of the pensions through the signing into law, the Cross River State Senior Citizens Centre Bill which is seeking to establish Care and Support facilities for retirees across the three Senatorial Districts of the state.
Speaking earlier at the event is the Commissioner for Trade and Commerce, Dr. Mrs. Abigail Duke commended the initiative of Governor Otu for thinking outside the box to deliver solutions that are impactful and sustainable because Cross River State Microfinance and Enterprise Development Agency (MEDA) which is supportive to Retirement Enterprise Development Initiative (REDI) program is the first of it kind in the entire country and it’s a “bold step towards ensuring sustainable livelihoods and reducing poverty” in the people.
She used the opportunity to declare that the “initiative is more than just a program, it is a statement of intent” as Cross River is taking the lead in ” human capital and Enterprise Development” because, “the impact of this innovative approach has gone beyond our borders ” of which, in”the most recent meeting of the Federal Ministry of Industries, Trade and Investment Council, the concept of Small and Medium Enterprise Development Agency of Nigeria adopted and presented same proposal to Council courtesy of Cross River State”.
In her brief remarks, the Director General of MEDA, Great Ogban describes the REDI program as being transformative in line with Governor Otu’s”people first ” agenda because it was in June, 2025 that the 500 retirees graduated from a specialized Entrepreneurship training course, and one month later, the promise of financial empowerment have been fulfilled.
He used the opportunity to announce that the next phase of the training program will target more additional retirees and that will be drown from the three Senatorial Districts of 500 each.
