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President Goodluck Jonathan Pledges To Expand Support For MSME Sector

President Goodluck Jonathan on Tuesday kicked-off the official disbursement of Central Bank of Nigeria (CBN)’s N220 billion fund for Micro Small and Medium Enterprises (MSMEs) to state governments and financial institutions which have met set criteria, promising that his administration would increase its focus on the sub sector to make it more vibrant.

Describing the MSME sector as the engine of economic growth and job creation, he said government would work tirelessly to frontally address the challenges in that sector by improving access to finance and investing heavily in infrastructure to drive down the cost of doing business as well as enhance the competitiveness of entrepreneurs.

Commending the CBN Governor, Mr. Godwin Emefiele, for bringing the monetary intervention to fruition, Jonathan expressed confidence that the disbursements would help to structurally transform the economy and significantly boost MSMEs contribution to the Gross Domestic Product (GDP).

Speaking at the end of the 8th MSME finance conference in Abuja, the president said he was particularly delighted that about 60 per cent of the fund had been set aside to support women entrepreneurs who he described as critical for economic transformation.

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