The federal government has announced plans to launch a de-risking fund in May aimed at improving access to affordable financing for Micro, Small and Medium Enterprises (MSMEs) in Nigeria.
Temitola Adekunle-Johnson, Special Adviser to the President on Job Creation and MSMEs, revealed this during a weekend event by the Nigerian Association of Small and Medium Enterprises (NASME) in Abuja.
He said the initiative is part of a broader strategy to tackle the unsustainable lending rates often as high as 28–30% and encourage collaboration between state governments and commercial banks to lower interest rates for SMEs.
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“We are launching two major schemes, one of which is the de-risking fund for SMEs. The goal is to ensure loan facilities are more accessible and affordable,” he stated.
Adekunle-Johnson also disclosed plans to increase the number of MSME hubs in the country from 10 to 20 by year-end.
Meanwhile, NASME President, Dr Abdulrashid Yerima, emphasized the need for practical support for women-led MSMEs, citing access to finance, markets, and capacity building as critical areas of concern.
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