• News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
MSME Africa
  • News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
No Result
View All Result
  • News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
No Result
View All Result
MSME Africa
No Result
View All Result

75,000 Nigerians Set to Receive N1 million Each in Micro and Small Business loans at Single-Digit Interest Rates, President Tinubu Announces

Blessing Joseph by Blessing Joseph
August 5, 2024
in Business, News
0
75,000 Nigerians Set to Receive N1 million Each in Micro and Small Business loans at Single-Digit Interest Rates, President Tinubu Announces
Share

In response to nationwide protests over hunger and governance issues, President Bola Tinubu has announced significant economic measures to support Nigerian businesses and create jobs. During a national broadcast, he revealed that 75,000 Nigerians are set to receive N1 million each in micro and small business loans at single-digit interest rates starting in August 2024.

 

President Tinubu highlighted his administration’s achievements over the past year, including the construction of 10 MSME hubs and the creation of 240,000 jobs. He added that five additional hubs are underway and will be completed by October 2024.

 

“Seventy-five thousand beneficiaries have been processed to receive our N1 million micro and small business single-digit interest loans, starting this month. We have also built 10 MSME hubs within the past year, created 240,000 jobs through them, and five more hubs are in progress which will be ready by October this year,” President Tinubu stated.

 

In addition to supporting small businesses, the president announced that payments of N1 billion each are being made to large manufacturers under the Federal Government’s single-digit loan scheme to boost manufacturing output and stimulate economic growth. “Payments of N1 billion each are also being made to large manufacturers under our single-digit loans to boost manufacturing output and stimulate growth,” he said.

 

These initiatives aim to address the economic challenges facing Nigeria and promote sustainable development by empowering small and large businesses alike.

Post Views: 15,930
Share

Related Posts:

  • MSME Africa Unveils Top 50 Remarkable MSME Founders 2023, Awards them $25,000 in Media Credits
    MSME Africa Unveils Top 50 Remarkable MSME Founders…
  • Best Cities to live as an Entrepreneur in Nigeria
    Ultimate 2024 Guide to the Top Business Enabling…
  • Africa must prepare for the inevitability of a global food crisis - Akinwumi Adesina
    Overcoming Binding Constraints to Competitive…
  • #IWD2023: Celebrating Outstanding Women in Micro Small and Medium Enterprises
    #IWD2023: Celebrating Outstanding Women in Micro…
  • Top 15 Social Media Marketing Tools for Nigerian Entrepreneurs
    15 Social Media Management Tools That Will Make Life…
  • Nigerian Government Agencies that Support Entrepreneurship
    Nigerian Government Agencies that Support…
Tags: EntrepreneursMicro and Small Business loansMSME AfricaMSME News in Nigeria todayMSMEsNigeriansPresident Tinubu
Previous Post

Lagos State Extends Graduate Internship Program to Combat Youth Unemployment, Apply now

Next Post

Nigerian Business Associations Form Coalition to Support AfCFTA Trade in Services Protocol

Next Post
Nigerian Business Associations Form Coalition to Support AfCFTA Trade in Services Protocol

Nigerian Business Associations Form Coalition to Support AfCFTA Trade in Services Protocol

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result
Join MSME on Whatsapp
Subscribe To Our Newsletter
Enter your email to receive a weekly round-up of our best posts. Learn more!
icon
By subscribing, you agree with our privacy policy and our terms of service.

Recent Posts

  • BREAKING: JAMB releases rescheduled UTME results
  • Maintenance: NNPCL announces Shutdown of Port Harcourt Refinery
  • ASUU Warns of Possible Strike Over Federal Government’s Delay on Education Agreement
  • NOPPMAN Cracks Down on Fake Onion Seeds to Protect Nigerian Farmers
  • Minister of Water Resources Calls on World Bank for Increased Support to Boost Nigeria’s Dam Upgrades and Irrigation Projects

Recent Comments

  • 10 Reasons Why SMEs Should Invest in Video Marketing - MSME Africa on How to Create Viral Videos for Social Media in 2024
  • link alay4d on 5 Nigerian-based Companies Providing Accelerator Programs for Startups in 2024
  • Damilare Oladeji on Nigerian Government Agencies that Support Entrepreneurship in 2024
  • situs alay4d on 50 Best Tools to Boost Your Productivity as an Entrepreneur in 2025
  • Otabor Osayomore Blessing on Ultimate 2025 Guide to the Top Business Enabling Cities for Startup Founders and Entrepreneurs in Nigeria
  • About us
  • Advertise with Us
  • Contact Us
  • Home
  • News
  • Newsletter
  • Submit News
  • Terms of Use

© 2023 MSME Africa - All rights reserved.

No Result
View All Result
  • About us
  • Advertise with Us
  • Contact Us
  • Home
  • News
  • Newsletter
  • Submit News
  • Terms of Use

© 2023 MSME Africa - All rights reserved.