The Special Adviser to President Ahmed Bola Tinubu on Industry, Trade and Investment, John Uwajumogu, told micro, small and medium enterprises (MSMEs) that the Federal Government has made it easier for applicants to access the N200 billion fund with the Central Bank of Nigeria (CBN).
He said interested applicants need to register with the Organised Private Sector (OPS) or the National Association of Small Scale Enterprises or the Manufacturers Association of Nigeria (MAN) to qualify for the loans.
Recall that the CBN established the Small and Medium Enterprises Credit Guarantee Scheme (SMECGS) some years ago to promote access to credit by SMEs.
Unfortunately, the majority of MSME operators have been unable to access the facility, which has affected its impacts.
Uwajumogu gave the assurance while fielding questions from journalists at the 4th Abuja Business Plan Competition at a Glance, organised by Abuja Enterprises Agency (AEA).
The aide said: “The current administration is aware of the N200 billion MSME fund domiciled with the CBN, going forward, I can assure you that government will ensure that all SMEs that register with recognised associations will be assisted to have easy access to the funds.
“Government is also taken it upon itself to provide basic infrastructure and remove all bottlenecks that have been problematic to the growth of the sector without delay.”
