.webp)
Mr Tinubu, majority of 40m MSMEs are on life support
In 2022, MSMEs contributed 48 percent to Nigeria’s gross domestic product (GDP), accounted for 96 percent of businesses and 84 percent of employment.
Tag
SMEs face cash crunch as banks prioritise large enterprises
In April 2022, Nigeria’s President, Muhammadu Buhari, said that his government had done much to create an enabling environment for micro-, small- and medium-scale enterprises (MSMEs) to thrive.
How fuel scarcity, rising inflation is affecting SMEs
“Whether you make sales or not, you will pay money daily for electricity,” a trader told Dataphyte, revealing that he and his boss (the owner of the business), depending on the business thriving and a lower cost of running the business to live daily.
CBN, NIRSAL MfB disburse ₦20.18bn to SMEs as COVID-19 loan, conceal beneficiaries’ list
The Central Bank of Nigeria (CBN) says it has released ₦20.18 billion to NIRSAL Microfinance as credit facilities to small businesses to cushion the effect of COVID-19.