National Economy
Saturday, July 19, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home Lead-In

‘N10trn CBN Loans: MSMEs Receive Only 6.63% In 10 Years’

by  BUKOLA ARO-LAMBO
1 year ago
in Lead-In
Reading Time: 2 mins read
CBN
Share on FacebookShare on TwitterShare on Telegram

A recent report from the Central Bank of Nigeria (CBN) has unveiled that Micro, Small, and Medium Enterprises (MSMEs) received only 6.63 per cent of the total N10.39 trillion intervention loans disbursed by the CBN over the course of ten years. This revelation sheds light on the limited financial support directed towards MSMEs, which are critical drivers of economic growth and employment generation in Nigeria.

According to the detailed report provided by the apex bank, a total of N689 billion was allocated to the MSME sector between August 2013 and September 2023. This figure represents a relatively small portion of the overall intervention funds disbursed by the CBN during this period.

The report further highlights the MSME sector’s position as the third lowest recipient of intervention funds, trailing behind sectors like export and health, which received higher allocations. Such disparities underscore the challenges faced by MSMEs in accessing financial support necessary for their growth and sustainability.

The intervention programs designed to support MSMEs include various initiatives such as the Micro, Small and Medium Enterprises Development Fund (MSMEDF), Agri-business/SME Investment Scheme (AgSMEIS), Nigeria Youth Investment Fund (NYIF), and Tertiary Institutions Entrepreneurship Scheme (TIES), among others.

You May Like

20 States Risk July Flooding Despite ₦620bn Ecological Funds

DisCos Billed Customers ₦257bn, Recovered ₦199bn In April — NERC

Furthermore, the report indicates that the majority of credit facilities allocated to the MSME sector have either been fully paid or are currently in ongoing payment status for the projects. This suggests that despite the limited financial support, there are positive performance indicators within the MSME sector, reflecting its resilience and potential for growth.

In discussing the impact of these intervention programs, the report underscores the significance of targeted financial support in fostering entrepreneurship and job creation within the MSME sector. However, it also acknowledges the challenges and gaps that persist in terms of access to funding and supportive policies.

The report provides insights into the top beneficiaries of the loan programs for the MSME sector, highlighting key initiatives such as the Micro, Small and Medium Enterprises Development Fund (MSMEDF), which aimed to bolster MSMEs in sectors like manufacturing, pharmaceuticals, and cement companies.

Similarly, the Agri-business/SME Investment Scheme (AgSMEIS) emerged as a significant program, providing funding to sectors including manufacturing, fashion, agriculture, and hospitality. Other notable initiatives include the Targeted Credit Facility (TCF), Creative Industry Financing Initiative (CIFI), and the Nigeria Youth Investment Fund (NYIF).

Despite the positive aspects, the report also sheds light on the challenges faced by MSMEs in Nigeria, including limited access to funding, high-interest rates, and infrastructural deficits, particularly in unreliable power supply. These challenges pose significant barriers to the growth and development of MSMEs, hindering their ability to contribute fully to the economy.

 

Tags: CBNLoansMSMEs
ShareTweetShare
Previous Post

The Merits Of Increasing Nigeria’s VAT Rate

Next Post

NCDMB Governing Council Inauguration Reveals Key Infractions

ANOTHER GOOD READ

20 States Risk July Flooding Despite ₦620bn Ecological Funds
Lead-In

20 States Risk July Flooding Despite ₦620bn Ecological Funds

5 days ago
DisCos Billed Customers ₦257bn, Recovered ₦199bn In April — NERC
Lead-In

DisCos Billed Customers ₦257bn, Recovered ₦199bn In April — NERC

5 days ago
Nigeria Secures $50m WTO Fund For Women Digital Exporters
Lead-In

Nigeria Secures $50m WTO Fund For Women Digital Exporters

5 days ago
IMF: Nigeria Must Expand Cash Transfers To Reduce Poverty
Lead-In

IMF: Nigeria Must Expand Cash Transfers To Reduce Poverty

5 days ago
Tougher Choices Ahead For Nigeria’s Economic Rebound In H2
Cover

Tougher Choices Ahead For Nigeria’s Economic Rebound In H2

5 days ago
World Bank Approves $65m Loan For Nigeria’s SPESSE Project
Lead-In

World Bank Approves $65m Loan For Nigeria’s SPESSE Project

2 weeks ago
Next Post
Lokpobiri

NCDMB Governing Council Inauguration Reveals Key Infractions

Most Recent

Meta Deletes 10m Fake Profiles In Recent Crackdown

Meta Deletes 10m Fake Profiles In Recent Crackdown

July 17, 2025
Dangote Hails Tinubu Over NNPCL Leadership Choice

‘Africa Now Dumping Ground For Substandard Fuel’, Dangote Laments

July 17, 2025
NIS Launches Digital Platform For Expatriate Residence Permit Applications

NIS Launches Digital Platform For Expatriate Residence Permit Applications

July 17, 2025
Oyetola Vows To End Fish Importation

Oyetola Vows To End Fish Importation

July 17, 2025
Where Is The Fighting Ground Of Fintech Firms?

Where Is The Fighting Ground Of Fintech Firms?

July 14, 2025
FIFA Opens Office In Trump Tower

FIFA Opens Office In Trump Tower

July 14, 2025
Delta Gears Up For Groundbreaking CNS Swimming Championship

Delta Gears Up For Groundbreaking CNS Swimming Championship

July 14, 2025
Jeremiah, Sani-Inabo Advance To VEMP Doubles Quarterfinals

Jeremiah, Sani-Inabo Advance To VEMP Doubles Quarterfinals

July 14, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy