FG Launches Single-Digit Loan Scheme to Empower 6,122 MSMEs

Published on March 10, 2026

The Federal Government has unveiled a financing programme to strengthen Nigeria’s entrepreneurial ecosystem, offering 6,122 Micro, Small, and Medium Enterprises (MSMEs) access to single-digit interest loans under the Inspire–Create–Start–Scale (ICSS) programme.

Launched in Abuja, the initiative is implemented by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) in partnership with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) and Kaduna Business School, with support from GOPA Worldwide Consultants.

The programme aims to expand affordable financing for small businesses, enabling entrepreneurs to grow their enterprises, create jobs, and contribute to sustainable economic development.

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Loans will be provided through Jaiz Bank under two categories:

START Loans: ₦250,000 to ₦2 million for emerging businesses
SCALE Loans: ₦1 million to ₦5 million for expanding enterprises

The initiative represents a deliberate investment in productivity and inclusive growth, supporting MSMEs with low-interest financing to scale operations, strengthen capacity, and enhance their contribution to national development.

Interested applicants can apply via the Nigerian Youth Academy (NiYA) initiative on the official website of the Federal Ministry of Youth Development: www.fmdy.gov.ng

The programme is expected to boost entrepreneurship, improve access to finance for small businesses, and support the Federal Government’s strategy for youth empowerment, job creation, and economic growth across Nigeria.

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