Abuja: The Federal Government says it will in May inaugurate a de-risking fund to improve access to affordable financing for Micro, Small and Medium Enterprises (MSMEs). The Special Adviser to the President on Job Creation and MSMEs, Temitola Adekunle-Johnson, announced this at the 2025 International Women’s Day event organized by the Nigerian Association of Small and Medium Enterprises (NASME) on Saturday.
According to News Agency of Nigeria, the de-risking fund is part of a broader strategy to address high lending rates and boost small businesses’ growth across the country. Adekunle-Johnson highlighted that the initiative encourages state governments and commercial banks to collaborate, ensuring SMEs can secure loans at rates significantly lower than the current 28 to 30 percent.
The fund is designed to cushion SMEs against the impact of international trade challenges, including a 14 percent tariff imposed by the United States. While the Finance Minister has addressed this tariff, further interventions are planned to support the affected businesses. Additionally, the Federal Government plans to expand MSMEs shared facility hubs nationwide, offering access to international equipment for various sectors at subsidized rates.
The hubs, which provide guaranteed power supply and are managed by the private sector with government oversight, have already benefited over 120,000 MSMEs in the past year. Each hub can accommodate between 150 and 200 entrepreneurs daily, supporting small business owners in meeting production targets.
The commitment to building a vibrant MSMEs ecosystem is a critical pillar of the Tinubu administration’s job creation and inclusive economic growth strategy. Dr. Abdulrashid Yerima, NASME President, emphasized the importance of practical support for women-owned MSMEs, highlighting their pivotal role in Nigeria’s economy. He called for actionable steps beyond policies, citing challenges such as access to finance and markets.
Dr. Beatrice Benjamin, National Women Coordinator of NASME, expressed concern over the poor implementation of women-focused policies. She urged for models and facilities that address the specific needs of women in business, emphasizing the necessity for deliberate and swift interventions to support female entrepreneurs, especially in rural areas.
The NASME event convened key stakeholders to evaluate the status of women in business and explore ways to enhance inclusivity and economic empowerment.