Nigeria to fast-track access to single digit loans for MSMEs

The Nigerian government said it was working to ensure quick access to single digit loans for Nigerian small businesses.

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Vice President Kashim Shettima on Tuesday in a message to mark the 2023 World Micro Small and Medium Enterprises (MSME) Day, said that the Federal Government was aware of the impact of fuel subsidy removal on MSMEs and was working towards addressing it.

His words: “The government is working urgently to ensure quick access to single digit loans for Nigerian small businesses within the shortest time possible.

“On this World MSME Day, the government of President Tinubu recognises the vital role that 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,” said Shettima.

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Adding: “We urge all stakeholders to come together to champion the growth and success of MSMEs to achieve sustainable development for all. We also recognise the plethora of issues that face MSMEs as a result of the subsidy removal.