FG To Support Nigerians With $1B Syndicate Term Grant-Apply First

FG To issue artisans N30,000 to 330,000 financial support/ FG to Give 100,000 to 50,000 each from $1B grant syndicate

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The sum of 30,000 will be given to over 330,000 artisans as financial support to boast and assist Micro, Small, and Medium Enterprises (MSMEs) in Nigeria, the Bank of Industry (BOI) assured

Over A Billion USD have been secured to give 330,000 business owners 30,000 naira each, other small business owners will also get 50,000 naira each, the bank added

100,000 persons will also be given the 50,000 each from the $1B grant, the Government assured

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The Minister’s media personnel, Ifedayo Sayo who conveyed this information at the Quantum Mechanics Limited MSMEs Survival Fund Capacity Building Programme in Abuja, on Monday, stated that the loan scheme is signed to enhance the capacity of Banks in order to support MSMEs across major economic sectors within the country. Also, with international partners as collaborators, the scheme is sure to last long.

According to him “There is an ongoing discussion with Dunn and Bradstreet to establish a SMEs Ratings Agency of Nigeria (SMERAN) to provide an empirical basis toward analyzing the eligibility of SMEs to access credit.”

“The Artisan and Transport Grant supports self-employed artisans with a one-off payment of N30, 000 targeting 333,000 individuals.

The General MSMEs Grant will provide 100,000 MSMEs with one-off grants of N50,000 each, and the Guaranteed Offtake Scheme aims at engaging approximately 100,000 businesses nationwide to produce items typically manufactured in their locality, targeting 300,000 beneficiaries. The scheme supports free registration of companies for 250,000 beneficiaries.”

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