Finance
Apply for SMEDAN Loan Initiative (Above 2 Million Naira)
SMEDAN, the Small and Medium Enterprises Development Agency of Nigeria, is a dedicated entity focused on fostering the growth of small and medium enterprises (SMEs). In collaboration with the Federal Republic of Nigeria, SMEDAN is extending substantial loans to business owners, contributing to economic development as the new government emphasizes stability.
According to a statement from the Corporate Affairs Division of the Agency in Abuja, Dr. Dikko Umaru Radda, the Director-General and Chief Executive Officer of SMEDAN, expressed the commitment of both institutions to the success of this initiative for the benefit of Nigerian Micro and Small Enterprises (MSEs).
The Matching Fund initiative, which opened its portal to the public on February 22, 2022, is a strategic intervention designed to provide credit to the agri-business sub-sector. Its goal is to enhance enterprise output, competitiveness, and job creation, aligning with the broader objective of fostering economic growth.
Dr. Radda further highlighted that Jaiz Bank Plc will serve as the disbursing entity under this program, solidifying its role as the Agency’s latest partner in this initiative.
The collaboration aims to facilitate the effective distribution of funds and support the growth of businesses in Nigeria. As business owners, this presents a unique opportunity to access substantial financial support to fuel the expansion and development of your enterprises.
To take advantage of this initiative, prospective applicants are encouraged to explore the opportunities presented by the SMEDAN Loan Initiative, signaling a positive step toward the economic empowerment of SMEs in Nigeria.
CLICK HERE TO APPLY
Finance
Apply for the Ongoing Economic Support Loan from the Federal Government
Finance
Apply for the National Microfinance Loan Program – Starting from 500k
Finance
2023/2024 Federal Government Business Loan Initiative Unveiled
In a landmark move, the Federal Government has launched a transformative cash transfer program, committing to provide N25,000 to 15 million households monthly. President Bola Tinubu, in fulfillment of a campaign promise, officially inaugurated the initiative, targeting households across the nation for a monthly financial boost.
The inauguration ceremony took place on the occasion of the International Day for the Eradication of Poverty. Senator George Akume, representing the President, highlighted the government’s strategic commitment to tackling poverty, setting the tone for a comprehensive approach.
Under the theme “Decent Work and Social Protection: Putting Dignity in Practice for All,” President Tinubu outlined a series of proactive measures aimed at ensuring access to dignified employment and sustained social protection for every Nigerian.
Also Read: Fully Funded Scholarship in Australia
Dr. Betta Edu, the Minister of Humanitarian Affairs, disclosed that over the course of three months, 15 million households nationwide would benefit from the N25,000 cash transfer. She emphasized the rigorous verification process, including checks on National Identification Numbers (NIN) and Bank Verification Numbers (BVN), as well as confirming precise locations, to ensure the funds reach deserving recipients.
Mr. Wale Edun, the Finance Minister and Coordinating Minister of the Economy, echoed the President’s unwavering commitment to poverty reduction, underscoring the urgency of addressing the current unacceptable poverty rate in the country. He reiterated that poverty alleviation stands as a top priority for the President.
Shubham Chaudhuri, the World Bank Representative to Nigeria, highlighted the effectiveness of programs like conditional cash transfers in providing crucial support to vulnerable citizens during economic crises. He emphasized the importance of such assistance in preventing long-term consequences, such as insufficient daily meals or the withdrawal of children from school.
CLICK HERE TO APPLY
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