In a bold move to ease financing constraints for micro, small and medium enterprises, the Federal Government will in May launch a de-risking fund aimed at making loans more accessible and affordable.
The Special Adviser to the President on Job Creation and MSMEs, Temitola Adekunle-Johnson, disclosed this at an event organised by the Nigerian Association of Small and Medium Enterprises recently in Abuja.
Adekunle-Johnson explained that the fund is part of a broader intervention to tackle the country’s persistently high lending rates, often between 28 and 30 per cent, which have made access to credit extremely difficult for small businesses.
“We are launching two major schemes, one of which is the de-risking fund for SMEs. The goal is to ensure loan facilities are more accessible and affordable,” he stated.
Meanwhile, Adekunle-Johnson added that the initiative would promote collaboration between state governments and commercial banks to reduce interest rates and create a more inclusive financial ecosystem for SMEs.
As part of ongoing support, he further revealed plans to expand the number of MSME hubs across the country from 10 to 20 by the end of the year.
On his part, NASME’s President, Dr Abdulrashid Yerima, welcomed the development but called for targeted interventions to support women-led enterprises.
He identified access to finance, market entry, and capacity building as crucial to the growth of female-owned MSMEs.
Yerima reiterated that the de-risking fund marks a significant step toward unlocking the full potential of Nigeria’s SME sector, a key driver of job creation and economic diversification.
