Nigerian entrepreneurs urged to tap into Tinubu’s N200bn funds

Information minister Mohammed Idris, has urged Nigerian entrepreneurs to utilise President Bola Tinubu’s N200 billion business funds to grow their enterprises. Mr Idris made the call during a town hall meeting with stakeholders in Enugu on Thursday. He said the Tinubu administration had created three key business funds totalling over N200 billion for Nigerian businesses to access. The funds include the Presidential Conditional Grant Scheme, the Federal Government MSMEs Intervention Fund, and the Federal Government Manufacturing Sector Fund. According to him, these funds are available nationwide and accessible to manufacturers and start-up businesses. 
“Only two days ago, Vice-President Kashim Shettima visited Calabar to inaugurate MSMEs clinics. I call on all entrepreneurs to embrace the Nigeria First Policy. The president knows Nigerians are very creative, hence contractors, suppliers, and manufacturers in Nigeria will be considered first before any foreign counterparts. The wealth of Nigeria belongs to Nigerians first. Only when competencies are unavailable locally will the President approve sourcing abroad,” Idris said. He added that all ministries, departments, and agencies must patronise Nigerian goods and services before foreign ones. “This is the president’s Nigeria First Policy,” Mr Idris stressed. He expressed delight that Enugu and Imo are among 11 states granted regulatory autonomy to oversee their electricity markets, from generation to distribution. This, he said, followed Mr Tinubu’s unbundling of electricity, enabling states to generate and distribute their own power.
“We expect other states to adopt this policy soon,” he added. The minister noted economic stability was returning, with falling food prices and improved forex markets, as global rating agencies remain optimistic about Nigeria’s $1 trillion economic target. On youth development, the minister said Mr Tinubu’s administration had given unprecedented leadership opportunities to young Nigerians in ministries and agencies. He revealed that over 400,000 students had accessed loans through the Nigerian Education Loan Fund. “Our president insists no child with the required credentials will be denied education due to inability to pay school fees. He is paying their fees and providing pocket money to keep them in school,” he said. Mr Idris further disclosed that nearly 90,000 Nigerians had benefited from the administration’s consumer credit scheme to purchase household appliances such as refrigerators and television sets. They can access the consumer credit scheme and repay over time,” he explained.