Minister of State for Industry, Senator John Owan Enoh, has revealed that the ₦75 billion fund earmarked by President Bola Tinubu to support Micro, Small, and Medium Enterprises (MSMEs) has remained largely unutilized nearly two years after its approval.
Speaking during a meeting with the MSME Finance CEO Forum and Awards delegation, Enoh stressed the critical role of MSMEs in economic development, but lamented their longstanding neglect.
He explained that despite being pre-qualified, many MSMEs struggle to complete necessary documentation to access the fund.
The Minister called for financing models tailored to informal sector realities, particularly for entrepreneurs in rural communities.
He also disclosed the ministry’s plan to facilitate new funding pathways and stressed the need for affordable, long-term financing.
Forum CEO Jude Ndu emphasized the importance of public-private collaboration to drive job creation and financial inclusion.
He invited the Minister to serve as Special Guest at the upcoming MSME Finance CEO Forum, where leading banks like Access and Keystone will engage with stakeholders to unlock MSME growth.
