AfDB to support Nigeria’s tech-based MSMEs with $500 million

AfDB to support Nigeria's tech-based MSMEs with $500 million

Abuja (UNA-OIC) – Nigeria’s Vice President Yemi Osinbajo said the African Development Bank (AfDB) has agreed to support Micro-, Small and Medium-sized Enterprises (MSMEs), especially technology-based ones with US$500 million in Nigeria.
Osinbajo disclosed this on Sunday at the 33rd Inaugural Lecture of Babcock University, Ilishan Remo, Ogun. The institution’s 33rd Inaugural Lecture, under the theme “From Small Business to Big Business: A Future with Little Hope”, was delivered by Oluseyi Oduyoye, Professor of Business Administration.
The vice president said that one of the things the Federal Government did with small businesses during the COVID-19 pandemic and afterward was the introduction of the MSMEs Survival Fund, which gave almost a million businesses support after the pandemic.
“We paid three months’ salary of several of the MSMEs, especially private schools such as private primary schools, private secondary schools; we paid for teachers and also for several other businesses,” Osinbajo noted.

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