The Office of the Vice President on Tuesday said it would commence the disbursement of loans to Micro Small and Medium-sized Enterprises in collaboration with the Bank of Industry in January 2024.
“The loans totaling about N75bn will be given to small businesses nationwide at an interest rate of 9 per cent,” a statement signed by the Senior Special Assistant to the President on Job Creation & MSMEs, in the Office of the Vice President, Temitola Adekunle-Johnson, revealed Tuesday.
The statement is titled ‘BOI-FG single digit loans for MSMEs to commence Jan 2024.’
Adekunle-Johnson said the FG and the Bank will leverage existing platforms to provide loans to small businesses, targeting women and youths.
