On Wednesday, the Federal Government, as part of the Nigeria Economic Sustainability Plan (NESP), announced that the program had disbursed a lump-sum financial assistance of N30,000 to 333,000 recipients across all 36 states.
Concurrently, The Central Bank of Nigeria (CBN) has recently reopened the online platform for Micro, Small, and Medium Enterprises (MSMEs) to apply for loans of up to N25 million facilitated by NIRSAL Microfinance Bank.
This loan initiative by the CBN, known as the CBN Covid-19 Loan, is specifically targeted towards businesses adversely affected by the COVID-19 pandemic.
This information was revealed by Bashir Ahmad, the Personal Assistant to President Muhammadu Buhari, on New Media via his Twitter account on the aforementioned Wednesday.
The government, through its announcement, articulated that the primary objective of this program is to provide assistance to vulnerable MSMEs in meeting the salary commitments of over 500,000 workers.
Additionally, acquiring a loan is facilitated, and in my recent publication, I elucidated some effective strategies for debt management utilizing debt-consolidation loans.
This publication furnishes practical methods that are presently effective. Discover more about it.
Lastly, as per the disclosures from the Federal Ministry of Humanitarian Affairs, Disaster Management, and Social Development, registration for the Second Phase of the Government Enterprise and Empowerment Programme, commonly referred to as GEEP 2.0, is scheduled to commence in August 2022.
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