The Micro, Small, and Medium Enterprise (MSME) are estimated to be at over 40 million MSMEs in Nigeria. They contribute more than 50% to the Gross Domestic Product (GDP) with respect to job creation and national development. The scale at which the MSMEs contribute to the growth and development of the economy is quite high, […]
The federal government has officially flagged off the N60 billion Micro, Small and Medium Enterprises (MSME) Survival Fund and Payroll Support Scheme. During the official flag-off held in Abuja on Thursday, the Minister of State for Industry, Trade and Investment, Ambassador Mariam Katagum, said the two schemes were part of the government’s N2.3 trillion Nigeria […]
The Development Bank of Nigeria is a development finance institution focused on alleviating financing constraints faced by Micro, Small and Medium Scale Enterprises (MSMEs) in Nigeria through providing financing, partial credit guarantees and technical assistance. In addition, DBN loans have a longer tenure than other commercial loans, which are usually short-term. To start or grow […]
The year 2020 started with the announcement of the increased VAT rates, moved on to the coronavirus pandemic and its attendant challenges, the global oil crisis and its implications on national revenue, and just after the easing of the lockdown, the recent increase in fuel price. What do all these connotations mean for Micro, Small, […]
The Rotary District 9110, Nigeria, covering Lagos and Ogun states, has projected to set aside N50 million as micro credit scheme to empower 1,000 Micro, Small and Medium-scale Enterprises (MSMEs). However, the club has empowered 40 MSMEs with N2 million to enable them to boost their businesses and create more wealth. Making a statement at […]
The Federal Government has announced plans to roll out a N2.3 trillion stimulus package and survival fund for Micro Small and Medium Enterprises (MSMEs) to stay afloat amid the economic challenges imposed by the pandemic. The survival fund includes payroll support for three months, and guaranteed off-take scheme among others, all under the National Economic […]
The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN), has described innovation as a pathway to survival of Micro, Small and Medium-scale Enterprises (MSMEs) amid the COVID-19 pandemic. They asserted that with the volatility associated with the pandemic, MSMEs could not be ignored in the business ecosystem. The Institute said they must be committed […]
The National Association of Microfinance Banks (NAMB) has asked the Central Bank of Nigeria (CBN) to provide a special N250 billion intervention fund for micro, small and medium-sized Enterprises (MSMEs) in the country to support the ongoing economic recovery agenda of the government. The outgoing President of the association, Mr Rogers Nwoke, made the call […]
The Development Bank of Nigeria (DBN) has described Credit Guarantees Schemes (CGS) as veritable instruments to alleviate the credit constraints faced by micro, small, medium and enterprises, MSMEs. This was the highlight of presentations by industry experts at the just concluded DBN Webinar Series with the theme, “Risk Sharing: A Key Driver for Increased […]
Small scale business owners in Abia State have called on the Federal Government to create an enabling environment for the development and growth of micro entrepreneurial activities. They said the provision of an authentic database for Micro, Small and Medium Enterprises (MSMEs) would assist the operators in reaching out to their colleagues in other locations […]
