President Bola Ahmed Tinubu has said his administration will spend 75 billion naira on 75 enterprises across the country from July 2023 to March 2024.
The President who disclosed this in a nationwide broadcast on Monday night said this move is meant to strengthen the manufacturing sector, increase its capacity to expand and create good paying jobs for Nigerians.
President Tinubu said the selection of the 75 enterprises will be based on their capacity to add value to his administration’s pursuit of economic growth for the country.
“Our objective is to fund 75 enterprises with great potential to kick-start a sustainable economic growth, accelerate structural transformation and improve productivity.
“Each of the 75 manufacturing enterprises will be able to access N1 Billion credit at 9% per annum with maximum of 60 months repayment for long term loans and 12 months for working capital,” he said.
