AfDB to support tech-based MSMEs with $500m, says Osinbajo

Please check your E-mail inbox or spam to confirm.

Vice-President Yemi Osinbajo says the African Development Bank (AfDB) has agreed to support micro, small and medium enterprises(MSMEs) in Nigeria, especially technology-based ones, with $500 million.

JOIN US FOR MORE ON:
or

Osinbajo made this known on Sunday at the 33rd inaugural lecture of Babcock University in Ogun state.

He said that one of the things the federal government did to support small businesses during the outbreak of COVID-19 was the introduction of the N75 billion MSMEs survival fund.

“The MSMEs survival fund gave almost a million businesses support after the pandemic,” NAN quoted him as saying.

“We paid three months salary of several of the MSMEs, especially private schools such as-private primary schools, private secondary schools; we paid for teachers and also for several other businesses.

“I think the statistics will be useful, especially as you further research and work; and so much have been done.

“But as I keep saying, it is a large country; a very big country; in order to deal with all those issues and in order to support more businesses in a way that they ought to be supported, a lot more money is needed.

“And just one final point on that, the AfDB has agreed to support the government with 500 million dollars for MSMEs in technology in particular; so, we think this is something that will be very helpful in addition to the N75 billion, which the government has set aside for young people in small businesses.”

He noted that the support given to MSMEs had brought hope, jobs and opportunities.

According to him, support for small businesses must continue as they are the future of the country.

Source: The Cable.

FREE ACCESS: How to run and manage Facebook, Instagram Ads: Meta Business Management

Free Meta Business Management Course


DISCLAIMER: Do not pay or release sensitive financial details to any organizer/recruiter unless futher verified from your end.
Easter Hunt Sale
Easter Sale
ACEworld Publishers

About the Author: ACEworld Publishers

At ACEworld Publishers, we publish Latest Opportunities, Jobs & Free Online Courses. Join us on Twitter .

Got a question/Suggestion? Let's talk!

LATEST OPPORTUNITIES:

🕛 Jan 31, 2023
University of Glasgow James McCune Smith PhD Scholarships for International Students 2023
in Post-Graduate Programs | for Post Graduates

🕛 Jan 31, 2023
Utrecht University 2023 Excellence Scholarship for International Students
in Masters Programs | for Post Graduates

🕛 Feb 01, 2023
Carleton University 2022/2023 Richard J. Van Loon Scholarships for African Students
in Masters Programs | for Africans

🕛 Feb 01, 2023
St. Gallen Symposium 2023 Leader of Tomorrow Essay Competition (CHF 20,000+Funded to Switzerland)
in Essay Contests & Prizes | for Post Graduates

🕛 Feb 01, 2023
Study in Holland: Delft University of Technology Scholarship 2023-2024
in Masters Programs | for Post Graduates

🕛 Feb 01, 2023
Study in USA: University of La Verne 2023 Performance Scholarship for Undergraduate Students
in Scholarships | for Undergraduates

🕛 Feb 01, 2023
Wageningen University&Research Africa Scholarship Programme for Africans 2023
in Masters Programs | for Africans

🕛 Feb 10, 2023
SSRC-APN Individual Research Fellowships for African Countries 2023
in Fellowships | for Africans

🕛 Feb 12, 2023
BBC 2023 International Radio Playwriting Competition
in General Competitions | for Writers & Poets

🕛 Feb 15, 2023
Cornell University Africa Fund for PhD Students 2022
in Fellowships | for Africans

7 8 9 10 11 12 13 14