Office of the Vice President, in collaboration with the Bank of Industry (BoI) is set to commence the disbursement of loans to the Micro, Small and Medium Enterprises (MSMEs) by January 2024.
Senior Special Assistant to the President on Job Creation and MSMEs, Office of the Vice-President, Mr Temitola Adekunle-Johnson, made this known in a statement, yesterday, in Abuja.
Adekunle-Johnson said the move was part of an effort at keeping to President Bola Tinubu’s promise to support the transformation of the MSMEs space in the country.
He revealed that the loans, totalling about N75 billion, would be given to small businesses across the country at an interest rate of nine per cent.
Adekunle-Johnson explained that the Federal Government and the bank would leverage existing platforms to provide the loans to small businesses, targeting women and youths.
The Guardian
