The Minister of Information and National Orientation, Mohammed Idris, has affirmed the central role of small businesses in President Bola Tinubu’s economic reforms.
Speaking at the Media Activation and Town Hall Meeting on MSME Loan Schemes in Abuja, Idris noted that MSMEs, employing over 80% of Nigeria’s workforce and contributing nearly half of the GDP, are pivotal to the nation’s economic goals.
Idris emphasized targeted interventions aimed at boosting exports, job creation, and easing challenges caused by current reforms.
The government’s single-digit loan schemes and tax reforms, he said, aim to reduce burdens on Nigerian businesses.
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The Tinubu administration’s MSME schemes include a 200 billion Naira federal intervention, beginning with a 50 billion Naira disbursement for nano-businesses, and a second phase offering 75 billion Naira for small businesses.
Idris assured that access to these funds is merit-based, reflecting the government’s commitment to fairness and transparency.
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