The Federal Government, through the Bank of Industry (BoI), has commenced disbursement of its long-awaited intervention fund to strengthen Nigeria's manufacturing sector and empower small businesses. According to findings, N16.1 billion has so far …  | By Enitan Ajebukola Ajewumi on September 1, 2025 | The Federal Government, through the Bank of Industry (BoI), has commenced disbursement of its long-awaited intervention fund to strengthen Nigeria's manufacturing sector and empower small businesses. According to findings, N16.1 billion has so far been released to 22 manufacturing companies in the first tranche of the N75 billion fund earlier promised to 75 firms, with each expected to access up to N1 billion at a single-digit interest rate of nine per cent. The facility is targeted at helping manufacturers boost production, scale distribution, and cope with rising operational costs in the current economic climate. Read also, Beyond manufacturers, government has also earmarked another N75 billion specifically for Micro, Small and Medium Enterprises (MSMEs). Under this arrangement, 75,000 small businesses are expected to benefit from loans of up to N1 million each through the BoI. SMEs can also approach the bank with viable business proposals to access credit facilities that will enable them to expand operations and remain competitive. Though disbursement began about 14 months after the announcement due to bureaucratic delays, stakeholders see it as a relief programme to cushion the effects of reforms such as fuel subsidy removal and forex consolidation, while creating opportunities for growth and sustainability across the SME space. | | | |
