FG Partners with World Bank to Unveil $160million Financing, Job Creation Scheme

The Minister of Trade, Industry and Investment,  Okechukwu Enelamah on Tuesday, February 9, inaugurated a $160 million (about N49.2 million) World Bank supported initiative to boost access to finance as well as boost job creation in the country.

An online vehicle  named the Business Innovation and Growth (BIG) platform to properly execute the programme was launched.

BIG is landmark initiative of the Federal Ministry of Trade, Industry and Investment, which is funded by the World Bank and represents the main channel through which the Growth and Employment (GEM) assistance is expected to be made available to micro small and medium enterprises (MSMEs) in order to stimulate economic activities in critical non-oil sector areas.

The minister noted that the initiative, which has a three-year-implementation time frame, would among other things, help to open up the nation’s economic space to more players, particularly small business operators.

He said: “One of the challenges we have, which is well documented, is our ranking in the ease of doing business; it is depressing to know that Nigeria is ranked 169th of 189. And we have told the World Bank what exactly are the issues. So I am very confident that as unsatisfactory as it is, it is not going to be business as usual. So we are going to see a new Nigeria, you are going to see us working together in the mirror to see our country rise.”