The times ahead are times when much work must be put in on all fronts.
Hence, beneficiaries of the small and medium-scale enterprises (SMEs) ₦75 billion palliatives should prepare well.
Indeed, the times ahead do not only require work but also results.
Nigeria has failed in the past to milk the manufacturing sector and the small and medium-scale enterprises (SMEs).
The administration of President Bola Tinubu is not ready to make such a mistake.
So, the president has made plans to boost activities in these sectors with a ₦75 billion palliatives loan.
In its latest move, the federal government revealed the date for the release of its ₦75 billion grant to small-scale businesses nationwide.
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Vice President Kashim Shettima announced that the disbursement is scheduled to start in January 2024.
This was revealed on Tuesday by the VP through the Senior Special Assistant to the President on Job Creation and MSMEs, Temitola Adekunle-Johnson.
Shettima said the federal government would work with the Bank of Industry to disburse the funds, using pre-existing structures.
“The loans totaling about ₦75 billion will be given to small businesses nationwide at an interest rate of 9%.
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According to the bank, the upward review is to increase the number of beneficiaries of the bank’s loan scheme and impact more livelihoods,” he stated.
Shettima had promised in June, to fast-track the distribution of the palliative to businesses, a vow he seems to have kept.
