News
BoI Opens Portal For FG’s ₦75 Billion MSME Fund
The Bank of Industry (BoI) has announced the opening of its application portal for those seeking to benefit from the federal government’s N75 billion Micro, Small, and Medium Enterprises (MSMEs) Intervention Fund.
This was disclosed on Monday during a joint press conference by the Nigerian Association of Small Scale Industrialists (NASSI) and the BoI.
The BoI representative, Amina Habu Mohammed, said the fund targets 75 million SMSEs at N1 million each at 9% interest rate for a period of three years without collateral.
She said the loan aims at boosting MSMEs in the country and improving the living conditions of the people, adding that the application portal can be accessed online.
National President of NASSI, Dr Solomon Vongfa, described the N75 billion intervention fund as a beacon of hope for countless MSMEs that have been struggling to access affordable credit.
He said, “This landmark programme, in partnership with the Bank of Industry (BOI), is a testament to the government’s unwavering commitment to empowering Micro, Small, and Medium Enterprises (MSMEs) across the nation.
“The N75 billion MSME intervention fund is more than just a financial injection; it is a beacon of hope for countless MSMEs that have been struggling to access affordable credit.
“The fund will provide technical assistance and capacity-building programs to help MSMEs improve their business practices and enhance their competitiveness.
“As the Nigerian Association of Small-Scale Industrialists, we are committed to playing a pivotal role in sensitising MSMEs about this groundbreaking initiative. We will organise workshops, seminars, and outreach programmes to educate entrepreneurs about the eligibility criteria, application process, and benefits of the fund in partneship with BOI across the 36 states.”
- Top Stories4 hours ago
Breaking: Ibadan Stampede: Court Orders Remand Of Ooni’s Ex-Wife, School Principal
- Top Stories9 hours ago
I’m not prepared to downsize my cabinet — Tinubu
- Entertainment6 hours ago
Jay-Z has no ‘plans to show loyalty to longtime friend Diddy’ as he battles r@pe allegation
- Entertainment6 hours ago
Regina Daniels reveals the best way to predict one’s future as she shares more photos from her vacation
- Sports6 hours ago
GOAT: Who said Messi is better than me – Cristiano Ronaldo
- News9 hours ago
BREAKING: “I Have No Regrets” – Tinubu Defends Fuel Subsidy Removal Amid Economic Hardship [VIDEO]
- Entertainment6 hours ago
Selena Gomez flashes gorgeous $1M engagement ring
- Entertainment6 hours ago
Toyin Abraham clears the air on her appreciation post