Two billion naira loan disbursement through NERFUND in 2009/2010;
Collaboration of SMEDAN, NBS, CBN, NPC and UNDP in a national survey to
determine the contributions of MSMES to GDP.
Provision of Business Development Services: engagement/accreditation of
business [enterprise] development service providers (BDSPS)
$500m Sovereign Guaranteed Program: In view of the fact that the SMEs represent a strategic pillar for Nigeria’s quest to modernize and improve its economy,
the Federal Government, through the Bank of Industry (BOI), secured a five hundred million US Dollars worth of Sovereign Guaranteed Programme, in May 2011.
The loan was approved by the Board of Directors of the African Development
Bank (AfDB) and is meant to be channeled to SMEs through BOI by way of a multi- tranche line of credit. The fund is meant to finance domestic- oriented Small
and Medium Enterprises (SMEs) through BOI with the aim of achieving poverty
reduction, employment generation and wealth creation through entrepreneurial,
social and economic development.
Capital Market Development:
Irrespective of considerable resources invested by the Federal Government of Nigeria towards developing the capital market
and bolstering investor confidence through effective regulation, the inflow of
Foreign Direct Investment into the country remained unsatisfactory. In order to
expose the opportunities that still abound and further develop the market, the
Securities and Exchange Commission (SEC) Central Bank of Nigeria, Federal Ministry of Finance and Federal Ministry of Trade and Investment, collaborated to
host an exclusive investment forum Tagged ‘Project 50’ on 31st October, 2011.
The forum provided a platform for the country’s top government functionaries,
business leaders, renowned global investors and prominent economic/business
journalists to deliberate on the Nigerian Capital Market in the context of the country’s development aspirations, fashion out creative pathways that will propel markets into the future. The event drew attention to government interventions for engendering market integrity and posturing for a truly robust and well regulated market.
The major objectives of the forum are to:
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