t facilities to businesses, including manufacturers, up to ₦1 billion at a 9% interest rate. Speaking on Channels Television’s Sunday Politics programme, Edun explained that the current administration recognises the challenges entrepreneurs face in accessing…
He stated that small-scale entrepreneurs can receive up to ₦1 million in credit facilities, while larger businesses can access up to ₦1 billion at a 9% interest rate, significantly lower than the current interest rate of 26.25% recommended to commercial banks by the Central Bank of Nigeria . Edun stressed the importance of providing 9% loans for medium-scale enterprises and up to ₦1 billion in funding for larger enterprises to help manufacturing firms invest, grow the economy, employ more people, and produce more goods, ultimately helping to reduce inflation.
In recent weeks, prices of food and basic commodities have surged as Nigerians grapple with the country’s economic crisis, sparked by the government’s policies of petrol subsidy removal and unification of forex windows.Before flagging, please keep in mind that Disqus does not moderate communities. Your username will be shown to the moderator, so you should only flag this comment for one of the reasons listed above.
The Central Bank of Nigeria has lifted the restrictions imposed on fintech companies and allowed them to resume onboarding new customers. This development comes after a month-long freeze implemented in April 2024 to curb peer-to-peer cryptocurrency trading by CBN. OPay and Kuda, two of the affected fintech companies, in separate statements on Monday, confirmed…
The Democracy Watch Initiative on Tuesday lambasted the Nigeria Labour Congress and the Trade Union Congress for their ongoing strike action, accusing them of holding the entire country hostage for the benefit of a tiny minority. The DWI condemned the labour unions' ‘selfish and reckless’ demands, warning that their actions would further…
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