From Scholastica Hir, Makurdi
The Benue State government and Bank of Industry (BOI) have begun sensitising stakeholders on the N200 billion Presidential Intervention Fund for Micro, Small, and Medium Enterprises (MSMEs) and manufacturing enterprises.
At a town hall in Makurdi on Saturday, May 3, BOI MD/CEO Dr Olasupo Olusi described the fund as “a landmark initiative of President Bola Ahmed Tinubu’s administration to empower MSMEs and revitalise the manufacturing sector.”
Olusi noted, “This programme is not just a policy directive but also an investment in Nigeria’s future.” He praised Tinubu’s vision and Vice President Kashim Shettima’s oversight. Highlighting MSMEs’ role, he said they account for 96% of businesses, 84% of employment, and nearly half of Nigeria’s GDP, yet face financing and operational challenges.
He stated, “So far we have disbursed over N107 billion to almost 900,000 beneficiaries across Nigeria’s geopolitical zones. Out of this, over 27,010 beneficiaries valued at over N1.35 billion are from Benue State.”
The fund includes a N50 billion Presidential Conditional Grant Scheme (PCGS) for one million nano businesses, offering N50,000 grants across 774 LGAs, with 70% for women and youth. The N75 billion MSME Loan Scheme and N75 billion Manufacturing Sector Fund support scaling businesses and manufacturers.
Benita Shuluwa, Director General of the Bureau for Entrepreneurship and Wealth Creation, praised Governor Hyacinth Alia’s leadership, urging entrepreneurs to seek support. “Small-scale businesses drive the economy,” she said, noting the bureau’s efforts to promote job creation and attract investment since its establishment 18 months ago.
Olusi called on stakeholders to advocate for the scheme, stating, “We must create a path where industries thrive, where local production meets global standards, and where every enterprise is empowered to succeed.”