Enugu State Government and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have signed a N1 billion Matching Fund Programme agreement to support Nano, Micro, Small, and Medium Enterprises (NMSMEs) in Enugu State.
The Director-General of SMEDAN, Mr. Charles Odii, and Special Adviser to the Enugu State Governor on MSMEs, Mr. Arinze Chiloh-Offiah, signed the agreement at the SMEDAN headquarters in Abuja
The signing of the pact was confirmed in an X post by Dan Nwomeh, the Senior Special Assistant on Media to Governor Peter Mbah of Enugu State, with a press release on the N1 billion matching fund programme for the affected businesses in the state.
According to the governor’s aide, the objective of the N1 billion fund is to offer accessible, single-digit loans to the small businesses that fulfil the essential requirements for affordable business financing in the state.
Similarly, the N1 billion fund aims to support scaling up, enhancing competitiveness, and boosting the state’s economy, creating jobs, fostering innovation, and promoting inclusivity in the economic environment.
Nwomeh further stated that initiative signified a notable progress towards entrepreneurial development and economic growth in both the state.
Specifically, the agreement indicated that Sterling Bank Plc would manage and disburse funds to qualified enterprises, ensuring efficient delivery to beneficiaries with a view to ushering in a new era of expansion and prosperity for NMSMEs in the state.
The state government advised NMSMEs aiming to take advantage of this initiative to register their businesses at the Enugu SME Centre at http://enugusme.en.gov.ng/msmedata, adding that additional details regarding the N1 billion Matching Fund Programme and its eligibility criteria will be communicated soon by the Centre.
