The federal government has unveiled plans to introduce a new initiative with the aim of making access to credit facility easier for Small and Medium Enterprises (SMEs) across the country.
This move is part of the government’s broader effort to boost entrepreneurship, strengthen industrial growth, and enhance Nigeria’s economic competitiveness.
The Minister of State for Industry, Trade, and Investment, John Enoh, made the disclosure during the Renewed Hope Global Virtual Conference 2025 held over the weekend.
He acknowledged the persistent challenges small businesses face when seeking loans, particularly from commercial banks, and emphasized the government’s commitment to addressing these difficulties.
The federal government will partner First City Monument Bank (FCMB) to ensure micro and small enterprises can secure funding more easily.
According to Enoh, the initiative will be launched in the coming weeks and is expected to provide financial relief to thousands of small business owners nationwide.
