FG Approves $20m Tech Fund For Young Innovators

The Federal Government on Tuesday approved the sum of $20million technology fund for young innovators.

The sum was set aside by the Bank of Industry (BoI) in furtherance of the Buhari administration’s drive to support Micro, Small and Medium Enterprises (MSMEs).

This was disclosed by the Senior Special Assistant to the President on Media and Publicity, Laolu Akande.

He added that this was the outcome of a meeting at the presidential villa in Abuja, which was presided over by Vice President Yemi Osinbajo to review progress on the Buhari administration’s efforts to support MSMEs.

According to Akande, the Central Bank of Nigeria (CBN) is also offering a N90 Billion soft loan facility for small scale agriculture enterprises.

He added that the National MSMEs clinics driven by the Vice President has now reached 26 States, with more clinics to come in the series.

Also, the National Agency for Food and Drug Administration and Control (NAFDAC) is now poised more than ever to register more Nigerians venturing into the food and drug businesses.

All Federal Government agencies playing one role or the other in the MSMEs sector attended the meeting.