The Federal Government has fully disbursed the N75 billion Manufacturing Sector Fund to 104 manufacturing businesses, while N65.8 billion has been disbursed to 15,018 micro, small and medium enterprises (MSMEs) to boost domestic production, expand businesses and create jobs.
Minister of Industry, Trade and Investment, Jumoke Oduwole, disclosed this in an address on “Harnessing Nigeria’s Economic Potential for Greater Prosperity”.
Oduwole said the interventions were part of the Federal Government’s efforts to strengthen local industries, improve productive capacity and drive sustainable economic growth.
The disbursements were made under the Federal Government’s N200 billion intervention package, managed by the Bank of Industry (BoI), to support businesses, boost domestic production and create jobs.
The package comprises the N50 billion Presidential Conditional Grant Scheme for nano businesses, the N75 billion FGN MSME Intervention Fund for micro, small and medium-sized enterprises, and the N75 billion FGN Manufacturing Sector Fund for manufacturing businesses.
Oduwole noted that the N75 billion Manufacturing Sector Fund had been fully disbursed to 104 manufacturing businesses, while N65.8 billion had been disbursed to 15,018 businesses under the MSME Intervention Fund as of the first quarter of 2026.
