The Nigerian government has approved a N75 billion loan scheme with a nine per cent interest rate for 75,000 Micro, Small, and Medium Enterprises, MSMEs, across Nigeria. Scheduled for launch in 2025, this scheme aims to foster economic growth by targeting women and youth-owned enterprises, creating jobs, and stimulating local economies.
Minister of Information and National Orientation, Alhaji Mohammed Idris , outlined the project’s goals at a town hall meeting in Abuja, noting its alignment with President Bola Tinubu's Renewed Hope Agenda. 'This scheme is a concrete manifestation of Tinubu’s commitment to economic transformation. By focusing on
Es face, particularly high production costs due to recent fuel subsidy removal. The BOI’s Enugu Branch Head, Mrs Anuli Akabogu, highlighted this during a session in Enugu, saying: “The government understands the burdens Es drive economies globally, and we want the same for Nigeria,' he said. To reach potential recipients, government agencies like the Corporate Affairs Commission, Federal Inland Revenue Service, and other partners have joined efforts, touring the nation to inform business owners of the application criteria. In Kaduna, Governor Uba Sani, represented by his Special Adviser on Economic Matters, praised President Tinubu's dedication to economic empowerment.
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