Federal Government Empowers MSMEs Through Loan Access Training

by David Okoye

The Federal Ministry of Industry, Trade and Investment has initiated a capacity-building training program in Bauchi, targeting micro, small, and medium enterprises (MSMEs). The focus is on enhancing participants’ literacy in accessing loans and credit facilities in Nigeria, supporting the growth of their businesses.

Evelyn Ngige, the ministry’s permanent secretary, highlighted the importance of the training in providing practical insights into the realities of financial services in the country. The program aims to guide MSMEs in identifying the best funding options available for their businesses. Ngige emphasized that key policy programs for MSMEs’ development, aligned with the ministry’s statutory responsibilities, are actively being implemented.

Federal Ministry of Industry Trade and Investment

President Bola Tinubu’s recent announcement of a plan to disburse N75 billion in credit facilities to support Micro, Small, and Medium business owners underscores the government’s commitment to fostering economic growth through accessible financing.

Ngige further explained that similar training initiatives are concurrently taking place in various parts of the country, emphasizing the nationwide scope of the government’s efforts to empower MSMEs.

Mahmud Ma’aji, Bauchi’s commissioner for industry, trade, and investment, commended the initiative, urging participants to seize the opportunity provided. He emphasized that the training aligns with the state government’s commitment to enhancing commercial activities and providing improved opportunities for its citizens.

This strategic move by the Federal Ministry signifies a proactive approach to empower MSMEs, recognizing their vital role in the country’s economic landscape. As participants gain valuable skills in navigating financial services, it is anticipated that these efforts will contribute to the overall economic development and resilience of small businesses across Nigeria.

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