Cross River Empowers 500 Retirees with ₦250 Million to Launch Small Businesses Through REDI Initiative

In a landmark effort to transform post-retirement life, the Cross River State Government has disbursed ₦250 million in startup grants to 500 retirees as part of its Retiree Entrepreneurship Development Initiative (REDI). This bold step is aimed at enabling former public servants to transition smoothly from government service into the world of entrepreneurship.

The disbursement ceremony, held on Wednesday in Calabar, was presided over by Deputy Governor Peter Odey on behalf of Governor Bassey Otu. Each retiree received a grant of ₦500,000 to establish micro or small-scale businesses, following their successful completion of entrepreneurship training in June.

Governor Otu, in a statement, emphasized that REDI reflects his administration’s “People First” agenda, focused on human capital development, financial inclusion, and creating an enabling environment for sustainable livelihoods. “We recognise the lifetime contributions of our retirees and are committed to giving them not just dignity in retirement, but opportunity,” he said.

The Director-General of the state’s Microfinance and Enterprise Development Agency (MEDA), Mr. Great Ogban, hailed the initiative as a bold investment in local economic development. “This is not just a grant—it’s a seed for economic revival. These businesses will multiply impact through job creation, local trade stimulation, and intergenerational wealth-building,” he noted.

Beneficiaries expressed gratitude and hope for the future. Ms. Florence Oluohu, one of the recipients, shared, “This is a new lease on life. Many of us never thought we’d get another chance to create and contribute meaningfully again.”

REDI is the first of its kind in Nigeria, positioning retirees as potential drivers of the Micro, Small, and Medium Enterprises (MSME) sector. The program will now expand into Cross River’s Central and Northern Senatorial Districts, targeting an additional 1,000 beneficiaries in its next phase.

Governor Otu also highlighted broader reforms to improve retiree welfare, including the harmonisation of pensions, reduction of outstanding gratuity liabilities from 14 years to just four, and the establishment of Senior Citizens’ Centres in Calabar, Ikom, and Ogoja.

As Cross River pioneers this innovative model of post-retirement empowerment, REDI is being hailed as a replicable blueprint for other states aiming to achieve inclusive, grassroots economic growth