FROM IKHILI EBALU, BENIN CITY
Bank of Industry, BoI, yesterday held a sensitisation programme for small business owners on the federal government’s N75 billion Micro, Small and Medium Enterprises, MSMEs, Intervention Funds in Edo State.
Speaking in Benin, the State Manager of BoI, Engr Christopher Omondiagbe, said the funds is aimed at empowering entrepreneurs with financial support to grow their businesses and boost the economy.
Welcoming participants to the sensitisation programme, Omondiagbe said the programme was designed to enlighten micro, small, and medium enterprises about the benefits and application process.
He emphasised the importance of the initiative to Nigeria’s economic growth and development.
“The MSME sector drives innovation, creates jobs and fosters growth. This intervention fund ensures that these businesses have access to affordable financing and technical support,” he stated.
The manager listed key development partners supporting the initiative to include NASSI, NASME, SMEDAN, Edojobs, ESIPO, and other stakeholders working to ensure equitable fund disbursement.
He explained that the partners are collaborating to implement the programme across the 18 local government areas under the ‘Renewed Hope Agenda’ of President Bola Tinubu.
Omondiagbe noted that the N75 billion fund offers a nine percent annual loan interest rate, simplified application processes and technical assistance for capacity building among Nigerian entrepreneurs.
He stated that the fund also prioritises sectoral diversity, providing financial support to businesses in various industries, including agriculture, trade and technology.
According to him, job creation remains a cornerstone of this initiative, as the fund seeks to generate employment opportunities, while fostering economic resilience.
