To support Nano, Micro, Small, and Medium-Sized Enterprises (NMSMEs) in Enugu State, the Enugu State government and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have established a N1 billion fund.
This was said in an X post by Dan Nwomeh, the governor of Enugu State’s senior special assistant for media relations, who published a news release on the N1 billion matching cash scheme for local firms.
The statement claims that at the signing ceremony at the SMEDAN offices in Abuja, Mr. Charles Odii, the Director General of SMEDAN, and Mr. Arinze Chiloh-Offiah, the Special Adviser on MSMEs to the Governor of Enugu State, represented both parties.
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The objective of the N1 billion fund is to offer accessible, single-digit loans to NMSMEs, meeting the essential requirement for affordable business financing in the state.
This initiative signifies a notable advancement towards entrepreneurial development and economic growth in both the state and the broader region.
Sterling Bank PLC will manage and disburse funds to qualified enterprises, ensuring efficient delivery to beneficiaries.
The N1 billion fund aims to support scaling up, enhancing competitiveness, and boosting the state’s economy, creating jobs, fostering innovation, and promoting inclusivity in the economic environment, the statement noted
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With the program’s implementation underway, it is anticipated to herald a fresh era of expansion and prosperity for NMSMEs in Enugu State, as highlighted in the statement.
NMSMEs aiming to take advantage of this initiative need to register their businesses at the Enugu SME Center here http://enugusme.en.gov.ng/msmedata
Additional details regarding the N1 billion Matching Fund Program and its eligibility criteria will be communicated soon by the Enugu SME Center.
