Nigeria approves $20m fund for young innovators

APA-Abuja (Nigeria)

In furtherance if its policy to support Micro, Small and Medium Enterprises (MSMEs), Nigeria’s Bank of Industry has approved a $20 million technology fund for young Nigerian innovators.

The Central Bank of Nigeria (CBN) is also offering a N90-billion soft loan facility for small scale agriculture enterprises.

Local media reports on Wednesday quoted the media aide to the Vice President as saying that these were some of the outcomes of the meeting of all Federal Government agencies involved with the MSMEs sector in Abuja on Tuesday, which was presided over by Vice President Yemi Osinbajo, to review the progress made by the government to support MSMEs.

The reports recalled that the National MSMEs clinics driven by the Vice President has now reached 26 States with more clinics to come in the series.

The reports added that the National Agency for Food and Drug Administration and Control (NAFDAC) has pledged to register more Nigerians venturing into the food and drug businesses.


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