Economic Relief: 6,122 small businesses to access cheap loans, 50,000 students benefit from free JAMB

The Federal Government has introduced a financing program to support 6,122 Micro, Small, and Medium Enterprises (MSMEs) with low-interest loans.

The initiative is part of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) Inspire–Create–Start–Scale (ICSS) program. The loan facility will be managed by Jaiz Bank.

The program, launched in Abuja, is a collaboration between SMEDAN, the German development agency GIZ, and Kaduna Business School, with implementation support from GOPA Worldwide Consultants.

Speaking at the event, Minister of Youth Development, Ayodele Olawande, said access to finance is one of the biggest challenges for young people and underserved communities.

He explained that while Nigeria has a lot of creative and ambitious youth, many lack the support needed to turn ideas into real businesses.

“This program is important because it addresses one of the major challenges in our society—access to finance and real economic opportunities,” Olawande said. He added that programs like ICSS are investments in long-term development, not charity.

He emphasized that economic growth should create real opportunities through training, mentorship, financing, and access to markets.

In a separate initiative, President Bola Tinubu, under the Renewed Hope Agenda, began free JAMB registration for 50,000 students in the South-East region.

Each selected candidate will receive N8,500 to register for the 2027 JAMB examination. Belusochukwu Enwerem, National Coordinator of the South-East Renewed Hope Agenda (SERHA), said the program is part of Tinubu’s commitment to ensuring quality education.

“Today is not just a ceremony. It is a movement of hope and empowerment, showing that the future of Enugu State’s youth will not be limited by financial barriers,” Enwerem said.