
Governor Bassey Otu has disbursed N250 million to 500 retirees under the Retiree Entrepreneurship Development Initiative (REDI), as part of efforts to reposition senior citizens as contributors to the state economy.
At the launch event in Calabar on Wednesday, each beneficiary received N500,000 to support micro or small-scale businesses. The governor, represented by Deputy Governor Peter Odey, described the initiative as a “reciprocal investment” in those who served the state.
“This government values our retirees and seeks to reintegrate them into productive life,” Otu said. “Retiree entrepreneurship in Nigeria is now a strategic pillar of our People First agenda.”
He said the REDI scheme combines skills training with funding support and that this first phase will soon be extended to the Central and Northern Senatorial Districts.
Otu also highlighted that his administration has prioritised pension payments, reducing the backlog of gratuities from 14 years to just four. He further revealed the signing of the Cross River Senior Citizens Centre Bill into law, creating support hubs in Calabar, Ikom, and Ogoja.
Director-General of the state’s Microfinance and Enterprise Development Agency (MEDA), Mr. Great Ogban, described REDI as a key part of the governor’s human capital agenda. He noted that the 500 retirees had completed training in June and are now equipped to launch ventures that can create jobs and boost local economies.
“The next phase will target 1,000 more retirees—500 from each of the remaining senatorial districts,” he said.
One of the beneficiaries, Ms. Florence Oluohu, expressed gratitude: “This is a new lease of life. Many of us can now start meaningful businesses and contribute again to society.”
