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BUSINESS & ECONOMYNEWS

FG Raises N9bn Fund for MSMEs

As part of the implementation of the National Enterprises Development Programme (NEDEP), the Federal Government, through the Bank of Industry’s counterpart funding programme with 17 state governments, has generated a funding pool of N9 billion for Micro, Small and Medium Enterprises across the country.

The Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, disclosed this during the launch of NEDEP and inauguration of the Bayelsa State Micro, Small and Medium Enterprises Council, in Yenagoa, recently.

The Bayelsa State MSME Council has representatives from the Bayelsa State Government, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Central Bank of Nigeria, National Agency For Food Drugs Administration and Control, Nigerian Association of Small Scale Industrialists, Bank of Industry and Industrial Training Fund, among others.

Aganga noted that the inauguration was part of the federal government’s efforts at repositioning and growing the MSME sector as the major driver of inclusive economic growth through partnerships with state governments on job creation and wealth generation.

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