The Federal Government in collaboration with the Bank of Industry will begin the disbursement of loans worth 75 billion naira to micro, small and medium enterprises (MSMEs) across the country by January 2024.

This notice was contained in a statement signed by the Special Assistant to the President on MSMEs and Job Creation, Office of the Vice President, TEMITOLA ADEKUNLE JOHNSON, who said the beneficiaries will enjoy an interest rate of 9 per cent on the loans.

JOHNSON also explained that the loan initiative was targeted mostly at women and youths.

The statement also revealed that the present administration is committed to providing massive support to MSMEs both in grants and loans.