By Samuel Oyadongha, Yenagoa

Bayelsa State Governor, Senator Douye Diri, has approved a total of N740 million in interest-free loans for two promising young entrepreneurs as part of efforts to boost local innovation and drive economic growth in the state.

The announcement was made during the launch of the Bayelsa E-Commerce Entrepreneurship Programme (BEEP) in Yenagoa, themed “Made in Bayelsa, Sold To The World: Driving Prosperity Through Local Commerce.”

Mrs. Tare Korumene, CEO of ECO FIP Nigeria Limited, received an approval for a N240 million facility to expand her organic hair extension brand, Bayelsa Dunaly Hair, made from plantain stems. Mr. Winsome Dan-Adere, who recycles plastic waste into interlocking blocks, secured a N500 million loan.

Governor Diri, addressing over 500 participants, said the initiative aims to stimulate self-reliance among young business owners and would become an annual event. He emphasized that the loans would be disbursed through Premium Trust Bank, with modalities worked out by the state’s Ministry of Finance.

“This facility will serve as motivation to our young entrepreneurs and help reduce youth dependence. It’s time for us to shift from crude oil dependency to innovation-driven commerce,” Diri said.

He further highlighted the state’s broader tech-driven agenda, noting the integration of Artificial Intelligence into the education curriculum and the completion of a state-of-the-art ICT hub in Yenagoa.

“The world is ruled by technology today, and we must catch up. Uninterrupted power supply is essential for tech and commerce to thrive, and that’s why we have procured gas turbines to address this by year’s end,” he added.

In his keynote address, Director General of the National Information Technology Development Agency (NITDA), Kashifu Abdullahi, praised Bayelsa’s efforts, describing the BEEP as a step toward economic transformation.

He said the programme focuses on innovation, customer-centric entrepreneurship, and digital literacy, aiming to make Bayelsa a hub for tech and business process outsourcing by 2030.

“We are working toward achieving 95% digital literacy across Nigeria and initiatives like BEEP will help accelerate that goal,” Abdullahi stated.

Special Adviser to the Governor on Trade and Investment, Owanari Harry, said BEEP targets support for 500 nano, micro, and small enterprises in the state. The programme includes capital funding, mentorship, training, and global market access.

“BEEP reflects our commitment to empowering local businesses while positioning Bayelsa as a player in global commerce,” Harry added.

The event marks a significant step in Bayelsa’s vision to diversify its economy, empower its youth, and embrace technology as a tool for prosperity.