If you are a small business owner, you should know better that this new administration will empower people who are into small scale business. Because government has put much priority on small scale business. One of the smart steps to take is to register your business with government through Corporate Affairs Commission (CAC) so that the opportunity would not elude you when the time comes.
Register your business with CAC today before it is too late. Don’t say you were not told.
Below are the few points highlighted from yesterday President brief.
16. Our administration recognises the importance of micro, small and medium-sized enterprises and the informal sector as drivers of growth. We are going to energise this very important sector with N125 billion.
17. Out of the sum, we will spend N50 billion on Conditional Grant to 1 million nano businesses between now and March 2024. Our target is to give N50,000 each to 1,300 nano business owners in each of the 774 local governments across the country.
18. Ultimately, this programme will further drive financial inclusion by onboarding beneficiaries into the formal banking system. In like manner, we will fund 100,000 MSMEs and start-ups with N75 billion. Under this scheme, each enterprise promoter will be able to get between N500,000 to N1million at 9% interest per annum and a repayment period of 36 months.