The Minister of Industry, Trade and Investment, Otunba Richard Adebayo said the Federal Government has disbursed 785 billion naira to over 10 million Micro, Small and Medium Enterprises across the country.
Adebayo who stated this at the end of the 14th meeting of the National Council on Industry, Trade and Investment held in Bauchi, said the MSMEs benefitted from the gesture in the past four years.
He said the disbursement were carried through the Bank of Industry BOI between 2019 and 2022.
The minister said the government had revised the MSME policy to drive the growth and competitiveness in the sector, adding that it has successfully increased the nation’s capacity to fund tech-driven MSMEs.
The BOI, he said, had deepened its capital base to 5 billion dollars along with its international partners like the African Export-Import Bank and Credit Suisse, among others.
He said the ministry and the Nigerian Investment Promotion Council had committed towards ensuring that they do not just attract but also protect investments to genuinely benefit Nigeria and its citizens.