FG approves $20m Tech Fund for young innovators

FG approves $20m Tech Fund for young innovators

Wednesday, February 26, 2020 12:16 am

V.P. Yemi Osinbajo

Press statement

*N90B soft loan facility to be provided for small scale agric enterprises

In furtherance of the Buhari administration’s drive to support Micro, Small and Medium Enterprises (MSMEs), the Bank of Industry has approved a $20M technology fund for young innovators, while the Central Bank of Nigeria (CBN) is offering a N90 Billion soft loan facility for small scale agriculture enterprises.

These were some of the outcomes of a meeting at the Presidential Villa, Abuja, which was presided over by Vice President Yemi Osinbajo, on Tuesday, to review progress on the Buhari administration’s efforts to support MSMEs.

It would be recalled that the National MSMEs clinics driven by the Vice President has now reached 26 States, with more Clinics to come in the series.

Also, the National Agency for Food and Drug Administration and Control (NAFDAC) is now poised more than ever to register more Nigerians venturing into the food and drug businesses.

All Federal Government agencies playing one role or the other in the MSMEs sector attended the meeting.

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