• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Financial Literacy Small Business

FG says 4 million MSMEs have benefitted from N150 billion grant schemes

MSMEs sector accounts for close to 50 per cent of Nigeria’s GDP and 76 per cent of the country’s labour force.

William Ukpe by William Ukpe
January 25, 2022
in Small Business
NEC launches Ease of Doing Business report
Share on FacebookShare on TwitterShare on Linkedin

The Federal Government announced that up to 4 million MSMEs have benefitted from N150 billion worth of Federal Government support schemes to small businesses.

This was disclosed by Vice President Yemi Osinbajo in a statement by his media aide, Laolu Akande after the vice president’s keynote speech at the Bank of Industry (BOI) Aid for Productivity report launch.

The report chronicled the development, impact, and future of the BOI’s Growth Platform, which is the human and technology infrastructure used to drive multiple large-scale intervention programmes for micro, small and medium enterprises.

RelatedStories

Dangote Refinery

Dangote’s petrol distribution to save Nigerians N1.7 trillion annually, to boost 42 million MSMEs

June 30, 2025
BOI

FG disburses N2.25 billion to 16,696 MSMEs in Gombe  

May 2, 2025

What the VP is saying about the schemes

The Vice President said the report revealed the progress the FG has made in solving the challenges of MSMEs. He added that the success of the BOI Growth Platform was the story of “the Nigerian can-do spirit and the entrepreneurial DNA we carry.”

“This is an example of what we can achieve when we unleash the best of our people – especially our young – on the toughest of our challenges, and give them the free-hand to deliver result

 “This demographic was far too important to ignore.

“We had to start solving for them, especially having been left far behind historically a reason that led to the implementation of intervention schemes through the BOI’s Growth Platform for MSMEs.

“What might also not be obvious is the sheer scale of impact that has been achieved with these programmes, as over four million MSMEs have been direct beneficiaries of the over N150 billion deployed in the past five years.”

The Vice President also revealed that up to 57 per cent of the MSMEs were owned by Nigerians below 35 years of age, and close to 60 per cent of the beneficiaries were women, adding that the team of Nigerian professionals behind this work is largely young, with an average age of 28 years old.

The vice president also praised the Bill and Melinda Gates Foundation for providing the much-needed early support to BOI Bank to build the operation to the present large scale.

What you should know about the schemes

  • The BOI Growth Platform includes interventions schemes such as the renowned Government Enterprise and Empowerment Programme (GEEP) loans (MarketMoni, FarmerMoni and TraderMoni) – regarded as Africa’s largest fully-digitized micro-credit scheme.
  • Others are the MSME Survival Fund under the Economic Sustainability Plan (ESP), the North-East Rehabilitation Fund, the recently launched World Bank 750 million dollars NG-CARES programme, and state-based interventions.

In case you missed it

Recall Nairametrics reported on November last year that  Federal Government announced it has disbursed the sum of N56.8 billion to 835,161 beneficiaries under the MSME Survival Fund scheme.


Follow us for Breaking News and Market Intelligence.
Tags: Aid for ProductivityFARMERMONIGEEPGovernment Enterprise and Empowerment ProgrammeMarketMoniMSMEsTraderMoniYemi Osinbajo
William Ukpe

William Ukpe

For further inquiries about this article contact: Email: william.ukpe@nairametrics.com or outreach@nairametrics.com. Twitter: @_sirwilliam_ @nairametrics.

Related Posts

Dangote Refinery
Energy

Dangote’s petrol distribution to save Nigerians N1.7 trillion annually, to boost 42 million MSMEs

June 30, 2025
BOI
Business News

FG disburses N2.25 billion to 16,696 MSMEs in Gombe  

May 2, 2025
Nigerian government announces N198 billion syndicated loan for MSMEs from Q1 2025 
Business News

Nigerian government announces N198 billion syndicated loan for MSMEs from Q1 2025 

December 6, 2024
MSMEs, business, women
Business News

FG raises loan access for MSMEs to N5 million at 9% interest rate in 3 years 

November 30, 2024
FG plans lending scheme for clean energy adoption in Nigeria – BoI MD  
Business News

Bank of Industry raises $5 billion, plans N120 billion  support for MSMEs 

November 22, 2024
Small Business
Op-Eds

How a GAP analysis can help your small business identify financing needs for growth

November 19, 2024
Next Post
Intra-African trade

With PAPSS, Nigerians will no longer need dollars for intra-African trade - Akinwuntan

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Ex-world’s richest woman Francoise Bettencourt Meyers is $18 billion richer in 2025
  • NDLEA intercepts $17.7 million in counterfeit travelers’ cheques, arrests suspects 
  • Weekly Market Wrap: Insurance, Consumer goods sectors shine as All-Share Index gains 0.83% 

Follow us on social media:

Recent News

Francoise Bettencourt Meyers

Ex-world’s richest woman Francoise Bettencourt Meyers is $18 billion richer in 2025

July 6, 2025
NDLEA: 13.6% of Lagos secondary students have tried drugs, 6.9% are active users  

NDLEA intercepts $17.7 million in counterfeit travelers’ cheques, arrests suspects 

July 6, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics