Temitola Adekunle Johnson, special adviser to the president on job creation and MSMEs, announced that the federal government plans to launch a de-risking fund in May targeted at making loans more accessible and affordable for micro, small, and medium enterprises.
He disclosed this at an event recently organized by the Nigerian Association of Small and Medium Enterprises in Abuja.
Adekunle Johnson emphasized that the fund is part of a broader intervention to tackle the country’s persistently high lending rates, often between 28 and 30 percent, which has limited access to credit for small businesses.
“We are launching two major schemes, one of which is the de-risking fund for SMEs. The goal is to ensure loan facilities are more accessible and affordable,” he stated.
He added that the initiative would promote collaboration between state governments and commercial banks to reduce interest rates and create a more inclusive financial ecosystem for SMEs.
As part of ongoing support, he further revealed plans to expand the number of MSME hubs across the country from 10 to 20 by the end of 2025.
Dr. Abdulrashid Yerima, NASME’s president, applauded the development but called for targeted interventions to support women-led enterprises.
He stressed that access to finance, market entry, and capacity building are crucial to the growth of female-owned MSMEs.
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