FG announces plans to formalize 1 million businesses across Nigeria at discounted rate 

The federal government has announced that it plans to formalize one million businesses across Nigeria at a discounted rate.

Vice President Kashim Shettima disclosed this during the launch of the Expanded National MSME Clinic in Makurdi, Benue State on Tuesday, according to a statement by Stanley Nkwocha, spokesperson to the Vice President.

Shettima noted that the MSME Clinic aims to empower micro, small, and medium enterprises (MSMEs) by breaking down barriers and providing crucial resources.

Acknowledging the role of MSMEs in job creation and economic development, the Vice President assured his audience of entrepreneurs and stakeholders that the federal government was committed to creating a thriving MSME ecosystem.

Shettima also disclosed that the N75 billion loan schemes from the Bank of Industry and Access Bank’s discounted N50 billion fund offer was already in place to support entrepreneurs.

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