by Kingseyi Thu May 17, 2018 8:43 amThe Central Bank of Nigeria (CBN) has approved the release of
second tranche of N1 billion from the Micro Small and Medium
Enterprises Development Fund (MSMEDF) for disbursement to
Small and Medium Enterprises (SMEs) in Niger State.
Commissioner of Investment, Commerce and Cooperatives,
Alhaji Mudi Muhammad, said more than 1000 women and
youth across the state are to benefit from the fund. He noted
that the first tranche of N1 billion was disbursed to the state
in March.
He said: “This fund is the effort of the federal government to
create job opportunities for women, youths and vulnerable
Nigerians. The disbursement of the first tranche is still
ongoing and CBN has recorded the state as the most
successful, noting the fund has been given to actual
beneficiaries.
“The programme is targeted at employing 11,578 people,
create 3, 000 jobs and cover over 20,000 indigent youths.”
Also, Alhaji Farouk Audi, Director-General of the state
MSMEDF, recalled that the programme was initiated in 2013
by CBN which earmarked N220 billion for states to access a
maximum of N2 billion.
“The programme is to reach out to 9 million Nigerians in five
years to create job opportunities. It targets 60 percent
women and 40 per cent youths and the vulnerable in the
state. The fund is channeled through financial institutions:
collected by four commercial banks and disbursed by 14
micro finance banks. The loan is for those who are into
businesses such as; agriculture value chain, artisans,
cottage industries, cooperative societies and start up,” he
explained.
second tranche of N1 billion from the Micro Small and Medium
Enterprises Development Fund (MSMEDF) for disbursement to
Small and Medium Enterprises (SMEs) in Niger State.
Commissioner of Investment, Commerce and Cooperatives,
Alhaji Mudi Muhammad, said more than 1000 women and
youth across the state are to benefit from the fund. He noted
that the first tranche of N1 billion was disbursed to the state
in March.
He said: “This fund is the effort of the federal government to
create job opportunities for women, youths and vulnerable
Nigerians. The disbursement of the first tranche is still
ongoing and CBN has recorded the state as the most
successful, noting the fund has been given to actual
beneficiaries.
“The programme is targeted at employing 11,578 people,
create 3, 000 jobs and cover over 20,000 indigent youths.”
Also, Alhaji Farouk Audi, Director-General of the state
MSMEDF, recalled that the programme was initiated in 2013
by CBN which earmarked N220 billion for states to access a
maximum of N2 billion.
“The programme is to reach out to 9 million Nigerians in five
years to create job opportunities. It targets 60 percent
women and 40 per cent youths and the vulnerable in the
state. The fund is channeled through financial institutions:
collected by four commercial banks and disbursed by 14
micro finance banks. The loan is for those who are into
businesses such as; agriculture value chain, artisans,
cottage industries, cooperative societies and start up,” he
explained.
