CALABAR, Nigeria — Eighteen business owners affected by a fire at the SPAR shopping complex in Cross River State have each received ₦25 million in federal financial assistance presented by Governor Bassey Edet Otu.
Otu handed the cheques to the beneficiaries at the Executive Chambers of the Governor’s Office in Calabar on Monday, September 28, 2026, saying the money was intended to help the businesses recover and rebuild.
The assistance was provided by President Bola Tinubu following an earlier intervention announced by First Lady Oluremi Tinubu.
Otu Urges Businesses to Rebuild
At the presentation, Otu said the government’s response after a disaster was critical to helping people recover from their losses.
“I know that accidents happen, and there is sometimes little that anybody can do about them. But the important thing is how we respond to such unfortunate situations,” Otu said.
He said his administration placed particular emphasis on supporting small businesses because of their role in the economy and in sustaining household incomes.
“This government believes principally in supporting small businesses, recognising their importance to the economy and the livelihoods of our people. That is why we are prepared to provide support in every way possible,” he said.
Otu credited the intervention to the federal government and expressed appreciation to the first lady, whose visit to Cross River State for the South-South launch of the National Community Food Bank Programme preceded the financial assistance to the affected businesses.
The governor also praised President Tinubu’s administration for providing the funds, saying the assistance would ease some of the financial strain on the affected business owners and their families.
Beneficiaries Asked to Use Funds for Recovery
Otu urged those receiving the money to put it towards restoring sustainable businesses and livelihoods.
“It is important to mention at this point that the financial lifeline provided by Mr. President should be translated into productive lives and sustainable livelihoods, in order to justify his love, sacrifice and goodwill,” he said.
He said the state government would continue to support small and medium-sized businesses and directed entrepreneurs towards business advisory services, grants, and soft loans available through the ministry responsible for financing and enterprise development.
“The doors of the Ministry responsible for financing and enterprise development are always open to entrepreneurs seeking business advisory services, soft loans and grants,” Otu said. “I therefore encourage you to take advantage of these opportunities to grow your businesses and improve your livelihoods.”
