FG Plans N100Bn Support To SME’s 

FG to boost job creation by injection of N100bn to support SMEs - 1st for  Credible News

Joseph Bakare

The Federal Government is considering the disbursement of N100 billion to Boost operations of Small and Medium Enterprises, SME’s in the country.

The intention is to support its job creation for several unemployed persons in the country.

Minister of State for Labour and Employment, Mr Festus Keyamo, said this during the launch of the disbursement of empowerment items to women in Jos, Plateau State

Keyamo, who was represented by the director General of the National Directorate of Employment , NDE, Malam Abubakar-Nuhu Fikpo, said the disbursement of N100 billion by the FG was done through the Development Bank of Nigeria; since 2017 to facilitate Small and Medium Enterprises (MSMEs); with the view to creating jobs for the country’s teeming unemployed.

“You will all agree with me that unemployment is one of the remote causes; of banditry, terrorism, corruption and other forms of criminality.

“Even though the FG is working hard at check terrorism and all other forms of criminality and violent crimes, it is equally prosecuting the war against mass unemployment.

”I am proud that the National Directorate of Employment (NDE) whose board I am privileged to Chair and also directly supervise, is effectively leading that war against mass unemployment.

“Let me inform you all that the Federal Government has put all plans in place; to ensure that businesses succeed in Nigeria. The present administration has launched a series of funding and capacity development initiatives; designed to support Micro, Small and Medium Enterprises (MSMEs).

”Since 2017, the Development Bank of Nigeria has disbursed a total of N100 billion; through the bank’s 27 participating financial Institutions (PFIs); thereby impacting more than 100,000 MSMEs.

“ It is heartwarming to note that 52 per cent of loans disbursed in 2019 and 2020; were to youths and women-owned businesses,” he said.

Keyamo, noted that the NDE empowerment of women was designed to ensure that the beneficiaries and trainees acquire relevant and marketable skills that would galvanize them into starting their own businesses.

”Our goal is to provide them with quick income-generating opportunities because of their roles in providing family support and sound social stability at the very foundation of society.

“I am proud to inform you that the Women Employment Branch (WEB) of the Small Scale Enterprises Department of the NDE is responsible for driving initiatives aimed at providing ample opportunities for women with the entire framework of our employment creation processes.”

One thought on “FG Plans N100Bn Support To SME’s 

  1. Dat’s a welcome development, please FG should try and implement this vision, it will go a long way to reduce hardship in our beloved country, thank you

Add Comment