This notice was contained in a statement signed by the Special Assistant to the President on MSMEs and Job Creation, Office of the Vice President, Temitola Adekunle Johnson, who said the beneficiaries would enjoy an interest rate of 9% on the loans.
Johnson also explained that the loan initiative primarily targeted women and youths.
He added that the Tinubu-led government has collaborated with stakeholders across the public and private sectors to provide massive support for MSMEs in grants and loans.
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The Presidential aide cited the recent upward review of the Access Bank loan scheme for MSMEs from N30bn to N50bn.
“The upward review, according to the bank, is to increase the number of beneficiaries of the bank’s loan scheme and impact more livelihoods,” he said
The statement also revealed that the administration is committed to supporting MSMEs in grants and loans.