FG Reopens Portal for MSMEs Loan (Apply Now!)

The federal government, through the Central Bank of Nigeria (CBN) and NIRSAL Microfinance Bank (NMFB) has reopened the portal for Micro, Small and Medium Enterprises (MSMEs) and households affected by COVID-19 to access up to N25 million loan.

NMFB LoanThis disclosure was made by the Personal Assistant to President Muhammadu Buhari on Media, Bashir Ahmad, via his Twitter handle on Wednesday.

Ahmed tweeted, “The CBN, through @NirsalMFB introduces a stimulus package to support households and MSMEs affected by the COVID-19 pandemic. An individual can access up to N25million.”

What is the interest rate for the loan?

The interest rate under the intervention is 5% per annum (all inclusive) up to February 28 2021 and thereafter, the interest on the facility will revert to 9% per annum (all inclusive) as from March 1st 2021.

72 thoughts on “FG Reopens Portal for MSMEs Loan (Apply Now!)”

  1. Babagana Mustapha

    I want to start new business to depends myself and my families because I growth up in poor families when I was a young boy my father died i have some brothers take care of them and myself so we need help

  2. I have a well designed business plan if when approved will contribute greatly towards improving the SME industry in Nigeria through job creation. With a loan of two million naira within the space of 4years i shud be able to have annual tuenovers of 10million naira not including other strategie this business have on ground.
    I am a fashion designer with a vision of creating a fashion school that will help keep the teeming youth very busy. I am looking for a sponsor that will enter into an MOU with me on how remittance can be make pn yearly basis.
    You can reach me via my email
    Togather we can make the country a better place where hope van be rekindle for the greater good of all. Praying someone pick interest and buy this vision. Thank you

    1. Cecilia s. Deshi

      Please update me on every information, because I need money to start my own business please

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