Tinubu: Why my govt set up N200bn intervention fund for MSMEs, manufacturers

President Bola Tinubu says his administration created a N200 billion intervention fund to support micro, small, and medium enterprises (MSMEs) and manufacturers in overcoming structural challenges and boosting competitiveness.

Speaking at the 31st Nigerian Economic Summit on Monday in Abuja, where he was represented by Vice President Kashim Shettima, Tinubu said the initiative aligns with his government’s commitment to empower the poor, jobless, and vulnerable Nigerians through access to loans, grants, and equity investments.

He noted that recent economic reforms are yielding positive results, with GDP growth reaching 4.23 per cent in September 2025 and national revenue rising significantly.

Tinubu attributed these gains to deliberate policies such as subsidy removal and exchange rate reforms, which he said have stabilised the economy and restored investor confidence.

The president stated that Nigeria’s economy expanded from N309.5 trillion in 2023 to N372.8 trillion in 2024, while non-oil revenue grew by over 400 per cent year-on-year.

He added that Nigeria’s debt service-to-revenue ratio has dropped below 50 per cent, prompting rating upgrades from Fitch and Moody’s.

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Tinubu also highlighted the recently signed Tax Reform Acts, which aim to boost domestic revenue, simplify compliance, and protect low-income earners.

He assured Nigerians that the government remains focused on ensuring inclusive growth and sustainable economic recovery.

Also speaking at the event, the Minister of Budget and Economic Planning, Atiku Bagudu, lauded the government’s collaboration with the Nigerian Economic Summit Group (NESG).

NESG Chairman Olaniyi Yusuf and Vice Chairman Boye Olusanya called for stronger security measures and consistency in economic reforms to sustain progress.

The Star