President Tinubu Announces New Financial Support For 250,000 Small Businesses

President Bola Ahmed Tinubu has announced plans to introduce new financial support for about 250,000 small businesses across Nigeria over a one-year period.

According to a post shared on his official Instagram page, @officialasiwajubat, the President disclosed that the new initiative would provide working capital to help small business owners meet their daily expenses and keep their businesses running.

Tinubu explained that small business owners face several challenges, including raising money, paying workers and purchasing equipment needed for their operations.

He also revealed that Vice President Kashim Shettima had received representatives of Micro, Small and Medium Enterprises (MSMEs) from across the country on his behalf. The meeting included the Minister of State for Industry and heads of SMEDAN, NEXIM, NEPC and ITF.

The President recalled that his administration approved N200 billion in grants and financial support for small businesses and manufacturers in 2023.

He added that the new working capital initiatives would be introduced in the coming weeks to help about 250,000 businesses over 12 months.

Tinubu also highlighted efforts by the Office of the Vice President to strengthen engagement with business owners through quarterly meetings, giving entrepreneurs an opportunity to share their concerns with the government.

He expressed appreciation to the MSME representatives for their visit and confidence in his administration, promising to continue working towards supporting small businesses and helping them grow.

Steadynewshub feedback-opera-news-app@opera.com