The federal government says it will support small businesses to access credit facilities at a single digit rate to scale up their operations and boost the economy.
The Ministry of Industry, Trade and Investment, stated this during a visit of the Nigerian Association of Small and Medium Enterprises (NASME) on Friday in Abuja.
“Mr President specifically said that every support will be given to ensure that MSMEs have access to credits,” said the Minister of State in the ministry, Maryam Katagum.
“That is what we always preach and we will give every support to the MSMEs as the engine of economic growth to have access to credits at single digits,” Mrs Katagum said.
She asked NASME to identify ways the federal government can assist small businesses.
“As partners your association has to start thinking of new innovative ways that we can assist MSMEs, it’s not just the finance,” the minister said.
The president and chairman of NASME governing council, Abdulrashid Yerima, expressed the association’s commitment to deepen the relationship with the ministry.
According to him, “support for capital development for our association is crucial for development of skills and manpower to upscale MSMEs especially NASME.”