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:

🕛 Dec 28, 2022
NPC Census-National Population Commission Recruitment 2022
in Gov. Recruitments | for Graduates

🕛 Dec 30, 2022
2022 Torrens University Australia International scholarships and Fee Waivers
in Post-Graduate Programs | for Post Graduates

🕛 Dec 30, 2022
Apply: Anonymous Hope Fund 2022
in Grants & Fundings | for Everyone

🕛 Dec 31, 2022
Apply: University of Melbourne 2023-2024 Graduate Scholarships for International Students
in Masters Programs | for Graduates

🕛 Dec 31, 2022
Egbin Power Plc Industrial Training Programme 2023
in Internships / Graduate Trainee Progs. | for Undergraduates

🕛 Dec 31, 2022
FAO 2022 Internship Programme For Africa
in Internships / Graduate Trainee Progs. | for Graduates

🕛 Dec 31, 2022
Florida State University 2023 Scholarship for Masters and PhD Students
in Masters Programs | for Post Graduates

🕛 Dec 31, 2022
Intelsat Mission 1 Space STEM Scholarship 2023 for Young Africans
in Scholarships | for Africans

🕛 Dec 31, 2022
MRS Oil Nigeria Plc 2022 Scholarship Scheme for Nigerians
in Scholarships | for Nigerians

🕛 Dec 31, 2022
My Writing Journey Competition 2022
in General Competitions | for Writers & Poets

1 2 3 4 5 6 7 8 9 10 11 12