FG palliative News – Distribursement of N75 Billion Loans (N5billion palliative per state)


Good news for Nigerian MSMEs! N75 Billion Loans Coming in January!

Starting January 2024, get ready for a boost if you’re a Micro, Small or Medium-sized Enterprise (MSME) in Nigeria! The Office of the Vice President, in partnership with the Bank of Industry (BOI), is set to disburse a whopping N75 billion in loans to support your business growth.

Here’s what you need to know:

  • Favorable interest rates: These loans come with a sweet deal – an interest rate of just 9%, much lower than what you might typically find.
  • Wide reach: No matter where you are in Nigeria, you’ll have a chance to access these funds.
  • Focus on women and youth: The program specially targets supporting women and young entrepreneurs, recognizing their vital role in the economy.
  • Part of a bigger effort: This initiative is just one piece of the puzzle. The government is actively working with both public and private sectors to provide grants, loans, and create a more enabling environment for MSMEs to thrive.

This announcement fulfills a promise made by Vice President Kashim Shettima to give Nigerian MSMEs swift access to single-digit loans. He understands the critical role you play in driving economic growth, creating jobs, and fostering innovation. The government is committed to helping you succeed!

So, MSMEs, get ready to gear up! Keep an eye out for more details on how to apply for these loans in January. And remember, everyone – let’s all work together to champion the growth and success of Nigerian MSMEs!

Hardship: Distribute FG’s N5bn Palliative Before Christmas, UK Afenifere Urges S’West Governors

UK Afenifere urges S’West Governors to distribute N5bn FG palliative before Christmas. Concerned about ongoing economic hardship, UK Afenifere demands Southwest Nigerian governors provide relief.

Full statement issued by Afenifere follows.

“Afenifere in UK and Europe urges South-West Governors to distribute N5bn FG palliatives for Christmas relief.” President Bola Tinubu’s government announced N5billion palliative per state in August 2023.

UK Afenifere notes N2billion released from N5billion state palliative since September 2023. Afenifere urges immediate distribution of remaining palliatives amidst people’s suffering.

UK Afenifere recognizes economic hardship and suffering in Nigeria. Hardship in Nigeria hinders access to food for Christmas 2023.

Afenifere calls on South-West Governors to empathize and provide palliatives to the poor. Afenifere urges traditional rulers and local government chairmen to assist.

Urgent action needed to support people against rising food costs in Nigeria. Time to alleviate suffering during the season of giving.

Good governance crucial in Nigeria’s current economic and social climate. Nigeria’s poverty status contrasts with its rich resources, requiring change.

Nigeria’s youth and natural resources contrast with widespread hunger and poverty. While some face hardship, others celebrate, highlighting governance issues.

Need to clarify good governance in Nigeria and globally. Governance concept linked to public interest perspectives.

Governance serves as a performance measure for leaders in developing countries. Urgent need for action in the people’s interest.

Current situation deviates from our forefathers’ and Chief Awolowo’s vision. Our forefathers aimed for a prosperous Yoruba people.

South-West Governors expected to uphold and build upon our forefathers’ legacy.


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