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JenneteUgo Anya
- December 11, 2024
FG Launches ₦198bn Loan Fund To Empower MSMEs In 2025
In a decisive move to bolster micro, small, and medium enterprises (MSMEs) across the nation, the federal government has unveiled a ₦198 billion syndicated loan fund. Scheduled to roll out in the first quarter of 2025, this initiative aims to enhance entrepreneurship and spur economic growth in every state of the federation. The program introduces […]
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- November 11, 2024
SEC Plans To Launch Capital Formation Office For MSMEs
In a bid to address the financing challenges faced by micro, small, and medium enterprises (MSMEs) in Nigeria, the Securities and Exchange Commission (SEC) has announced its progress toward establishing a dedicated office for small business capital formation. This office, which is at an advanced planning stage, will provide tailored support to companies seeking to […]
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- October 31, 2024
BoI Rolls Out Application Portal For Federal Government’s N75bn MSMEs Intervention Fund
The Bank of Industry (BoI) has opened the application portal for the federal government’s N75 billion micro, small, and medium enterprises (MSMEs) Intervention Fund. The fund, aimed at empowering MSMEs across the country, offers a unique lifeline with affordable, collateral-free loans to boost small businesses and enhance economic resilience. The announcement was made during a […]
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- October 21, 2024
FG Secures $119m Investment For Tech Hubs, MSMEs
The federal government has secured approximately $119 million in investments aimed at developing tech hubs and supporting micro, small, and medium enterprises (MSMEs). This major development was recently disclosed by Mr. Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications. This investment is the outcome of Vice President Kashim Shettima’s recent engagement […]
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- October 18, 2024
Three Entrepreneurs Win ₦10m In SMEDAN Pitch Competition
Three entrepreneurs have emerged victorious in the SMEDAN Pitch Competition, sharing a prize pool of ₦10 million. During the recent MSME Conference 2024, a major platform for innovation and entrepreneurship in Nigeria, over 3,000 applicants showcased ideas aimed at addressing challenges faced by micro, small and medium-sized enterprises (MSMEs) in the country. The competition, more […]
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- October 17, 2024
BoI Disburses N75bn To Boost Small-Scale Industrial Growth In Nigeria
The Bank of Industry (BoI) has disbursed N75 billion to support vulnerable members of the Nigerian Association of Small-Scale Industrialists (NASSI), in a bid to stimulate growth and productivity among small-scale enterprises. The fund disbursement was formalised through a Memorandum of Understanding (MoU) signed recently at BoI’s head office in Abuja. This development comes on […]
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- October 17, 2024
SEC To Relax Crowdfunding Rules, To Ease Access To Capital For MSMEs
The Securities and Exchange Commission (SEC) has revealed plans to ease regulations on crowdfunding to improve small businesses’ ability to access much-needed capital. This recent move, aimed at fostering greater financial inclusion for startups and smaller firms, comes as Nigeria grapples with a challenging economic environment marked by high interest rates. Director- General (DG) of […]
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- October 3, 2024
FG Reaffirms Commitment To MSMEs Growth with Expanded Tax Incentives
The federal government has reaffirmed its dedication to supporting the growth and sustainability of micro, small, and medium enterprises (MSMEs) through various tax incentives aimed at easing financial pressures on these businesses. This announcement was made by Dr. Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS), during the inaugural MSME Finance Awards […]
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- September 27, 2024
Why MSMEs Should Target Highest Valuation When Sourcing For Capital
In Nigeria just as in many other countries, Micro, Small and Medium Enterprises (MSMEs) face unique challenges when struggling and competing for capital for growth and expansion. In this case, achieving the highest possible valuation can offer substantial benefits, providing a competitive edge and ensuring long-term sustainability. Below is an in-depth analysis of why MSMEs […]
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- September 2, 2024
African Banks Invest N575.62bn To Boost MSMEs, Retail Sectors
Several leading banks in Africa are set to invest N575.62 billion to support micro, small and medium sized enterprises (MSMEs) across the continent. This move is part of their effort to meet new capital requirements set by the Central Bank of Nigeria (CBN). Access Holdings, Fidelity Bank, Guaranty Trust Holding (GTCO), FCMB Group, and Zenith […]
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