Governor Bassey Otu of Cross River State has officially disbursed N500 million in loans to various entrepreneurs across the state. This initiative is a key aspect of his administration’s commitment to economically empowering businesses and enhancing the livelihoods of households. Represented by the Speaker of the State House of Assembly, Elvert Ayambem, the governor emphasized the importance of this intervention in fostering economic resilience and promoting inclusive growth within the region.

During the event in Calabar, Governor Otu highlighted a strategic shift in his administration's approach to measuring development. Instead of solely focusing on Gross Domestic Product (GDP) indicators, he noted the prioritization of the Human Development Index, emphasizing its relevance for assessing the real impact of policies on families. This approach underscores a broader vision aimed at ensuring that development efforts translate into tangible improvements for citizens’ lives.

Otu also shared insights into initiatives facilitated by the State Medium Enterprises Development Agency, which has trained over 2,500 citizens at the Enterprise Development Centre and verified approximately 800 businesses for financial assistance. The governor revealed that this N500 million loan disbursement follows an earlier allocation of N250 million, indicating a continuous effort to provide financial support and resources to local businesses, thereby driving economic growth in Cross River State.