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CBN approves N1bn for SMEs in Niger

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The Central Bank of Nigeria (CBN) has approved the release of second tranche of N1 billion from the Micro Small and Medium Enterprises Development Fund (MSMEDF) for disbursement to Small and Medium Enterprises (SME) in Niger State.

Commissioner of Investment, Commerce and Cooperatives, Alhaji Mudi Muhammad, said more than 1000 women will benefit from the fund. Even more, youths across the state will also benefit from the fund. He noted that the first tranche of N1 billion was disbursed to the state in March.

He said: “This fund is from the federal government to create job opportunities for women, youths and vulnerable Nigerians. The disbursement of the first tranche is still ongoing. And CBN has recorded the state as the most successful, noting the fund has been given to actual beneficiaries. “The programme is targeted at employing 11,578 people, create 3, 000 jobs and cover over 20,000 indigent youths.” Also, Alhaji Farouk Audi, Director-General of the state MSMEDF, recalled that the programme was initiated in 2013 by CBN which earmarked N220 billion for states to access a maximum of N2 billion.Read more here

SME, SMEs, SMES
CBN approves N1bn for SME in Niger

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