FG To Formalize One Million Nigerian Businesses At Reduced Cost

Vice President Kashim Shettima

The federal government has announced plans to Formalize one million businesses across Nigeria at a discounted rate.

Vice President Kashim Shettima, in a statement  issued by his media assistant, Stanley Nkwocha, disclosed this yesterday, when he launched the Expanded National MSME Clinic in Makurdi, Benue State capital, marking the first stop on a nationwide journey to empower small and medium-sized businesses.

The vice president stressed that President Bola Tinubu was committed to resolving the bottlenecks affecting the MSME space in Nigeria and would persist until the issues were resolved.
Shettima noted that the N75 billion loan scheme from Bank of Industry (BOI) and Access Bank’s discounted N50 billion fund offer was already in place as crucial financial support for entrepreneurs.

The MSME Clinic, the first of its kind under the President Bola Tinubu administration, aims to empower micro, small, and medium enterprises (MSMEs) by breaking down barriers and providing crucial resources.