At least 1.2 million Nigerians will be given soft loans which attract between two and three per cent interest rate as part of efforts to create jobs under government’s social investment programme.
Mr Laolu Akande, the Senior Special Assistant to the Vice President on Media and Publicity, in Abuja on Sunday said that government was synergizing with its enterprise agencies and the private sector to achieve the goal.
He named the agencies as the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Bank of Industry (BOI), Bank of Agriculture, the National Directorate of Employment(NDE), among others.
“About 1.2 million Nigerians are going to be given soft loans, may be at two or three per cent, loans of N20,000 to N50,000, N100,000, the traders, for people that have small businesses.
“We are going to be using co-operatives, so all these groups mentioned will be working together because we believe small and medium enterprises are very critical to the recovery and rejuvenation of the economy.