The Bank of Industry (BoI) has officially launched the application portal for the federal government’s N75 billion MSME Intervention Fund, targeting small businesses across Nigeria.
Announced during a joint press briefing with the Nigerian Association of Small Scale Industrialists (NASSI), the initiative offers each MSME a N1 million loan at a 9% interest rate, repayable over three years without collateral.
BoI representative Amina Habu Mohammed noted that this fund aims to uplift 75 million small businesses, enhance economic growth, and improve livelihoods nationwide.
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NASSI’s National President, Dr. Solomon Vongfa, praised the fund as a “beacon of hope” for struggling MSMEs.
He highlighted NASSI’s commitment to educating MSMEs on the fund’s application process and benefits through workshops and outreach in partnership with BoI.
Applications can be submitted via the BoI’s online portal.
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