Good news for small business owners in Nigeria! FirstBank has announced plans to disburse over ₦1 trillion in loans to small and medium-sized enterprises (SMEs) in 2025. This move reinforces its commitment to business growth and economic development. The initiative aims to support entrepreneurs across different sectors, helping them scale their businesses and boost Nigeria’s economy.
At the SME Scale Up event in Lagos, themed “Scale Up Your Business, Soar High,” FirstBank’s CEO, Olusegun Alebiosu, highlighted the importance of SMEs. He explained that small businesses drive employment, innovation, and wealth creation. He also emphasized the bank’s commitment to helping them overcome financial challenges.
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FirstBank’s dedication to SMEs has earned it major recognition. The bank won Best SME Bank in Nigeria and Best SME Bank in Africa at the 2025 Asian Banker Awards for the second year in a row.
In 2024, FirstBank disbursed over ₦700 billion in SME loans. This included ₦100 billion for market traders and up to ₦80 billion for informal businesses. Now, the bank is stepping up its efforts. In 2025, it will commit ₦1 trillion to fund businesses in retail, manufacturing, agriculture, and technology. This financial support will help entrepreneurs expand, hire more workers, and improve productivity.
FirstBank is not only providing loans. It also offers business advisory services, financial literacy training, and networking opportunities. These programs help entrepreneurs make better decisions, manage their finances, and connect with partners. Many of the loans will have low-interest rates and no collateral requirements. This makes it easier for small business owners to access financial support.
Access to funding is one of the biggest challenges for SMEs. With FirstBank’s increased support, more businesses will have the capital they need to grow. This initiative also aligns with Nigeria’s goal of strengthening the SME sector.
For small business owners, 2025 is a great time to secure funding and take their businesses to the next level. With FirstBank’s ongoing support, entrepreneurs can look forward to more opportunities for success.
