The President of the Federal Republic of Nigeria, Muhammadu Buhari has instructed the Central Bank of Nigeria (CBN) and other financial institutions to make further plans and provisions for financial stimulus packages for SMEs.
The President made this known in his address to the federation on the Federal Government’s decisions and updates as regards the novel COVID-19 pandemic.
This order has come in the administration’s recognition of the vital role that the Small and Medium scale Enterprises (SMEs) play in Nigeria’s economy.
President Buhari said the distribution and expansion of palliatives which he directed in his earlier broadcast were still ongoing in a transparent manner. “I am mindful of the seeming frustration being faced by expectant citizens. I urge all potential beneficiaries to exercise patience as we continue to fine-tune our logistical and distribution processes working with the State Governments,” His Excellency said.