The Federal Government has commenced the disbursement of N75 billion in single-digit loans to Micro, Small, and Medium Enterprises (MSMEs) through the Bank of Industry (BoI).
Mr Tola Adekunle-Johnson, the Senior Special Assistant to the President on Job Creation and MSMEs, made this known in Abuja at a nationwide town hall meeting to sensitise MSMEs to the Presidential Grant and Loan Scheme.
Adekunle-Johnson explained that the town hall meeting was going on simultaneously in Ogun, Bauchi, Enugu, and Kaduna states with a view to educating MSMEs on the conditions for accessing the loan.
“We live in Ogun, Bauchi, Enugu, Kaduna simultaneously. In 2023 President Bola Tinubu approved some funds as palliative to cushion the effects of subsidy removal.
“We are here today to sensitise MSMEs to the loan which is currently open all over the country.
“MSMEs can work in any Bank of Industry from today and apply for this loan. It is a single-digit loan, it is nine per cent, it is fixed,…