Federal Government’s Pledge to Empower Nigerian Small Businesses with Single-Digit Loans


Vice President’s Commitment to MSMEs

Vice President Kashim Shettima, in commemoration of the 2023 World Micro, Small and Medium Enterprises Day, announced the Federal Government’s dedication to facilitating swift access to single-digit loans for Nigerian small businesses. Recognizing the vital role of MSMEs in driving economic growth, job creation, and innovation, the Vice President emphasized the government’s commitment to supporting and creating an enabling environment for these businesses, especially during challenging times.

Addressing Challenges and Ensuring Access to Finance

Shettima acknowledged the challenges faced by MSMEs due to subsidy removal. However, he assured stakeholders that the government is diligently working to expedite access to single-digit loans for Nigerian small businesses. By addressing these challenges and providing financial support, the government aims to empower MSMEs and enable their sustained growth and success. The Vice President’s statement underscores the administration’s partnership with MSMEs and its unwavering commitment to their advancement.

Collaborative Efforts for Sustainable Development

The Vice President called upon all stakeholders to unite in championing the growth and success of MSMEs, ultimately contributing to sustainable development. Recognizing the plethora of issues faced by MSMEs, the government is determined to address these concerns and ensure that Nigerian small businesses can swiftly access the necessary loans with favorable interest rates. This collaborative approach highlights the government’s commitment to fostering an ecosystem that nurtures and supports the growth of MSMEs, driving economic progress and prosperity.


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