The Federal Government of Nigeria says it will fast-track MSMEs access to single-digit loans
This was disclosed by the Vice President, Kashim Shettima on Tuesday in a message to mark the 2023 World Micro Small and Medium Enterprises (MSME) Day.
He said, “On this World MSME Day, the government of President Tinubu recognizes the vital role that Micro, Small and Medium Enterprises (MSMEs) play in driving economic growth, creating jobs, and promoting innovation.
“We remain committed to providing support, fostering an enabling environment, and improving access to finance for MSMEs, especially in these unprecedented times.
“We urge all stakeholders to come together to champion the growth and success of MSMEs to achieve sustainable development for all, while we also recognize the plethora of issues that face MSMEs as a result of the subsidy removal, however the government is working urgently to ensure quick access to single digit loans for Nigerian small businesses within the shortest time possible.
“Please note that Mr. President is your partner and here to make life easier for your businesses.
Access to single loans will provide much needed finance for entrepreneurs at low cost and foster economic growth as well creating employment opportunities.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.