A new N5 billion loan scheme has been unveiled to support micro, small, and medium enterprises (MSMEs) in Nigeria, with special attention to women-owned businesses and enterprises in critical growth sectors such as green energy, education, and healthcare.
The initiative, backed by the Federal Government’s MSME Fund and facilitated through a financial institution in partnership with the Bank of Industry (BOI), is designed to break down long-standing barriers to finance for small businesses. It will provide accessible and affordable funding to help enterprises expand and operate sustainably.
Under the scheme, eligible businesses can access up to N5 million at a 9 percent interest rate, with a three-month grace period before repayment begins and a three-year repayment plan. The loan structure is aimed at giving entrepreneurs sufficient time to stabilise their operations before shouldering repayment obligations.
The program targets sectors considered central to Nigeria’s development priorities, including clean energy, inclusive education, public health, and women-led enterprises. According to the financial institution managing the disbursement, the initiative will deepen financial inclusion while empowering businesses that drive innovation, create jobs, and strengthen community development.
Applications can be made through designated bank branches or via the institution’s official website. The scheme is expected to act as a catalyst for sustainable business growth, economic resilience, and greater participation of underserved groups in the country’s development agenda.
