The Federal Government, under the leadership of President Tinubu, has unveiled plans to generate over 100,000 verifiable jobs by May 29. Temitola Adekunle-Johnson, the Senior Special Assistant to the President on Micro, Small, and Medium Enterprises (MSMEs) and Job Creation, made the announcement during the inaugural Job Creation and MSME Quarterly Communications Forum in Abuja.

Adekunle-Johnson highlighted the government’s focus on job creation in collaboration with the Federal Ministry of Labour and Employment. He outlined a target of creating 384,000 jobs within four years, with a particular emphasis on partnerships to achieve this goal.

In partnership with Access Bank, the government aims to address access to funding for MSMEs, with the bank committing N50 billion to support these enterprises. Notably, Access Bank offers loans at a reduced interest rate of 15%, compared to the prevailing rates of 27-29%. Additionally, simplified collateral requirements aim to facilitate easier access to financing for MSMEs seeking loans ranging from N1 to N3 million.

Minister of Information and National Orientation, Mohammed Idris, reiterated the government’s commitment to creating an enabling environment for MSMEs. He emphasized President Tinubu’s Renewed Hope Agenda, which prioritizes job creation and MSME development as vital components of sustainable economic growth.

MSMEs are recognized as essential drivers of the economy, fostering innovation, job creation, and inclusive growth. The government is dedicated to enhancing the ease of doing business, improving access to finance, providing critical infrastructure, fostering entrepreneurial skills, and facilitating market access to support MSMEs.

President Tinubu’s administration is steadfast in its pursuit of creating a conducive environment for MSMEs to thrive, thereby contributing significantly to economic development and prosperity in the country.