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HomeNewsSMEDAN, Enugu Government To Launch ₦1B Fund For NMSMEs

SMEDAN, Enugu Government To Launch ₦1B Fund For NMSMEs

 

To support Nano, Micro, Small, and Medium-Sized Enterprises (NMSMEs) in Enugu State, the Enugu State government and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have established a ₦1 billion fund.

This was said in an X post by Dan Nwomeh, the governor of Enugu State’s senior special assistant for media relations, who published a news release about the ₦1 billion matching cash scheme for local firms.

The statement claims that at the signing ceremony at the SMEDAN offices in Abuja, Mr. Charles Odii, the Director General of SMEDAN, and Mr. Arinze Chiloh-Offiah, the Special Adviser on MSMEs to the Governor of Enugu State, represented both parties.

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The ₦1 billion fund’s goal is to provide NMSMEs with easily accessible, single-digit loans, satisfying a crucial need for reasonably priced business finance in the region.

This project represents a significant step forward in the state’s and the region’s economic growth and development of entrepreneurship.

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