Ogoni releases N200m to strengthen businesses

Ogoni Entrepreneurship Summit has commenced the empowerment of businesses within the ethnic nationality with the launch of N200 million Ogoni Revolving Fund and Scheme ,2026.

This was as the summit inaugurated the 200m Ogoni Entrepreneurship Grant Scheme, OEGS, a programme that would empower businesses in the area. 

The summit said the development would strengthen the Ogoni economy, adding that the private sector driving scheme and is targeted at empowering Nano, Micro Small and Medium-scale businesses in the area.

This was contained in a statement jointly signed by the statement was signed by OES Grant Selection Committee, Sir (Dr.) Leesi Gborogbosi, Chairman, Engr. Tudor Miikor, Secretary, Dr. Elvis Ikoma, Head, Finance and Mr. Ndume Green, Head Media.

Addressing the media on behalf of the Committee, Ndume Green, the Head Media, OEGS, noted that the scheme was soly funded by Chief Lesi Maol, the Convener, adding that the grant was repayable. 

Green said the fund is interest free and is aimed at supporting existing businesses in Ogoni land, adding that repayment would create opportunity for others. 

Green said “the Ogoni Revolving Fund Scheme is designed to unlock entrepreneurial potential by supporting entrepreneurs, existing businesses, and micro-enterprises/trading across Ogoniland. Its objective is to stimulate sustainable economic growth, create jobs, and enable dignified livelihoods through enterprise.

Structured as a revolving fund, repayments from beneficiaries will create opportunities for others, ensuring continuity and shared prosperity across generations.
 
“Beyond financial support, the scheme offers structured guidance to strengthen local production, encourage innovation, and build resilient businesses. It is anchored on transparency, accountability, inclusiveness, and merit-based selection, with clear eligibility criteria, monitoring mechanisms, and repayment frameworks to ensure lasting impact.

The initiative reflects Chief Lesi Maol’s belief that sustainable development is driven by deliberate investment in people, skills, and productive capacity.
 
“The OES Grant Programme targets entrepreneurs, existing businesses, and micro-enterprises/trading, assessed strictly on merit to ensure a level playing field and support initiatives capable of generating sustainable economic and social value across Ogoniland.”

He said that the scheme has received applications from 500 businesses, adding that 111 applicants have scaled through to the next phase.

He said “following the closure of the application portal on 9 January 2026, over 500 applications were assessed, with 111 applicants shortlisted to advance to a mandatory training programme scheduled for Saturday, 14 February 2026.”