The Federal Government has unveiled a financing scheme to empower 6,122 Micro, Small, and Medium Enterprises (MSMEs) with access to single-digit interest loans through the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) Inspire–Create–Start–Scale (ICSS) programme.
The initiative, unveiled in Abuja yesterday, is a joint effort of the SMEDAN, the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), and Kaduna Business School, with implementation support from GOPA Worldwide Consultants. The dedicated loan facility will be managed by Jaiz Bank.
Speaking at the event, Minister of Youth Development, Ayodele Olawande, noted that access to finance is one of the most pressing challenges facing young people and underserved communities.
He said that while Nigeria is steeped in creativity and ambition, many young entrepreneurs do not have access to the structure and support needed to transform ideas into viable businesses.
“This gathering is important because it speaks directly to one of the greatest challenges facing our society, particularly young people and underserved communities; access to finance and sustainable economic opportunities,” the minister said.
Olawande stated that initiatives like the ICSS loan facility are not acts of charity but deliberate investments in productivity and long-term development.
He noted that economic growth must translate into tangible opportunities for young people through training, mentorship, financing, and market access. He stressed that enterprise development must be practical and measurable, not theoretical.
In a related development, President Bola Tinubu, through his Renewed Hope Agenda, yesterday, began the free Joint Admission and Matriculation Board (JAMB) registration for 50,000 students in the South-East region.
Each of the benefiting candidates would receive N8,500 to enable him or her to register for the 2027 JAMB examination.
National Coordinator of the South-East Renewed Hope Agenda (SERHA), Belusochukwu Enwerem, who launched the exercise in Enugu, stated that it was part of Tinubu’s commitment to ensuring quality education for the people of the region.
He stated that the programme was a movement of hope aimed at empowering and securing the future of the younger people.
“Today is not just a ceremony. Today is a movement. A movement of hope. A movement of empowerment. A movement that boldly declares that the future of Enugu State will not be limited by financial barriers.