Nigerian Vice President Assures Quick Access to Low-Interest Loans for Small Businesses

Vice President Kashim Shettima has pledged that the Federal Government of Nigeria will expedite access to single-digit loans for small businesses in the country. In a message delivered on Tuesday to commemorate the 2023 World Micro Small and Medium Enterprises (MSME) Day, the vice president acknowledged the government’s awareness of the challenges faced by MSMEs due to the removal of fuel subsidies and assured that measures were being taken to address them.

Recognizing the Importance of MSMEs

Vice President Shettima emphasized the vital role played by MSMEs in driving economic growth, generating employment opportunities, and fostering innovation. He reaffirmed the government’s commitment to supporting these enterprises, creating an enabling environment, and improving access to finance, particularly during these unprecedented times.

Collaboration for Sustainable Development

The vice president called upon all stakeholders to unite and champion the growth and success of MSMEs to achieve sustainable development for the entire nation. Recognizing the multitude of challenges faced by MSMEs following the subsidy removal, Shettima assured that the government was working diligently to ensure expedited access to low-interest loans for Nigerian small businesses, striving to minimize any delays.

A Partnership for Business Success

Vice President Shettima urged MSMEs to view President Tinubu’s government as a partner committed to facilitating their growth and making their business operations easier. The government acknowledges the importance of fostering an environment conducive to business success and is dedicated to providing the necessary support.

With the government’s focus on collaboration and creating a favorable environment, MSMEs can look forward to continued support and assistance to drive economic growth, foster innovation, and achieve sustainable development.

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