The federal government has approved a $20 million Technology Fund for young innovators.
A statement by Vice President Yemi Osinbajo’s spokesman Laolu Akande said that this is in furtherance of the President Muhmmadu 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,” said the statement.
According to Akande, these were some of the outcomes of a meeting at the Presidential Villa, Abuja, which was presided over by Vice President Yemi Osinbajo, SAN, on Tuesday, to review progress on the Buhari administration’s efforts to support MSMEs.
The National MSMEs clinics driven by the Vice President, he stated, 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.