Governor Otu Flags Off Economic Rebirth For 500 Retirees

Cross River State Governor, Senator Prince Bassey Edet Otu, has reaffirmed his administration’s commitment to inclusive economic development and social justice by officially launching and disbursing N250 million in grants to 500 retirees under the Retiree Entrepreneurship Development Initiative (REDI).

Governor Otu, who was represented at the event by his Deputy, Rt. Hon. Peter Odey made the declaration during the REDI grant disbursement ceremony held at Hogis Royale Hotel, Calabar, on Wednesday, July 23, 2025. Each beneficiary received a N500,000 grant to start micro or small-scale businesses, marking a bold step in repositioning senior citizens as active contributors to the state’s economy.

Governor Otu described the initiative as “expanded reciprocity” for those who committed their prime years to public service. He said REDI was part of his broader vision to promote human capital development and economic empowerment under the “People First” agenda.

“This government recognises the value of our retirees and seeks to reintegrate them into productive life. The REDI programme offers both skills training and funding support to help them transition from public service to private enterprise,” the Governor stated.

He noted that the disbursement marks the first phase of the programme, which will be replicated in the Central and Northern Senatorial Districts in the coming months. Governor Otu also assured beneficiaries of continued support through the state’s Microfinance and Enterprise Development Agency (MEDA), including access to soft loans for business expansion.

Since assuming office, the Governor revealed he has prioritised pension payments ahead of other expenditures, while significantly reducing the backlog of gratuities from 14 years to just four. He said his administration is also working on the harmonisation of pensions and has signed into law the Cross River State Senior Citizens Centre Bill, which will establish care and support facilities for retirees in Calabar, Ikom, and Ogoja.

“My administration is for everyone, especially the vulnerable. With your support and prayers, we will continue to build a healthy, prosperous state our children will be proud to inherit,” he said.
Director General of MEDA, Mr. Great Ogban, described the REDI programme as a transformative component of the governor’s “People First” blueprint. He recounted how, in June, 500 retirees graduated from a specialised entrepreneurship training course, and just one month later, the promise of financial empowerment had been fulfilled.

“This is more than money—it is the planting of seeds for economic revival. Each retiree’s business will create jobs, strengthen local economies, and inspire community growth,” Ogban said. He announced that the next phase of the programme would target 1,000 additional retirees, 500 each from the Central and Northern Senatorial Districts.

One of the beneficiaries, Florence Oluohu, who spoke to journalists at the event, expressed deep appreciation to Governor Otu for giving retirees a fresh opportunity at self-reliance. “This is a new lease of life. Many of us now have the resources and skills to start something meaningful. We ask that this programme be expanded to include more retirees who need such support,” she said.

The event witnessed the presence of labour leaders, affiliate bodies, senior government officials, and public-spirited individuals who lauded the initiative as a rare show of commitment to the welfare of retired public servants. They noted that the REDI programme redefines retirement as a stage for renewal, not redundancy.

With this pioneering effort, Governor Bassey Otu’s administration has sent a clear message that the dignity and contribution of every citizen, past or present, matters in the rebuilding of Cross River State.