President Muhammadu Buhari has said his administration is planning to ensure that at least 10 million Micro, Small and Medium Enterprises (MSMEs) have access to soft credit at a single digit interest rate in a proposed small scale empowerment scheme.
President Buhari also said the federal government is keen to help MSMEs achieve their full potential and has developed strategic policy interventions, enshrined laws and established institutions to create a supportive business environment for entrepreneurs and MSMEs.
Mr Buhari made the remarks yesterday at the opening ceremony of the 17th Abuja International Trade Fair. Represented at the event by the minister of industry, trade and investment, Otunba Niyi Adebayo, President Buhari said to achieve that plan, the trade and investment ministry has developed a programme that will enhance access to credit for over 10 million MSMEs at single digit rate.
“Aside from provision of finance, this project will address key ecosystem issues such as development of MSME clusters to lower operating costs as well as capacity building initiatives,” the President said at the Abuja event.