President Bola Ahmed Tinubu has justified the establishment of the ₦200 billion intervention fund for Micro, Small, and Medium Enterprises (MSMEs) and manufacturers, stating that it is necessary to help businesses “overcome structural challenges and enhance competitiveness.”
The President made the declaration while addressing the 31st Nigerian Economic Summit in Abuja, emphasizing that the fund is a critical part of his administration’s “Renewed Hope Agenda” aimed at empowering vulnerable Nigerians.
Restoring Hope and Competitiveness
According to President Tinubu, the fund and other economic initiatives are designed to revitalize the economy by strengthening its productive base and addressing hardship among the populace.
He stated that the administration’s priority is fundamentally focused on human welfare.
“As a people-oriented government, our priority remains restoring hope to the unemployed, the poor, the excluded, and the vulnerable,” the President said.
He elaborated that the N200 billion intervention is a calculated effort to support key economic drivers: “We established a ₦200 billion intervention fund to support micro, small, and medium enterprises and manufacturers, helping them overcome structural challenges and enhance competitiveness.”
Tinubu also highlighted the expansion of digital micro-loan access as a measure to improve financial inclusion, which in turn empowers small businesses and stimulates community-level productivity. He concluded that these efforts collectively “underline our commitment to an economy that works for all Nigerians.”
The President noted that the nation’s economic reforms are beginning to yield results, citing significant growth in the Gross Domestic Product (GDP) and other financial indicators.
