Federal Government Micro, Small and Medium Enterprises Development Fund (MSMEDF) – Apply Now

Ten (10) percent of the Fund has been devoted to developmental objectives such a grants, capacity building and administrative costs while ninety (90) percent commercial component will be released to Participating Financial Institutions(PFIs) at 2% for on-lending to MSMEs at a maximum interest rate of 9% per annum.

Eligible activities to be financed include agricultural value chain, services, cottage industries, artisans, trade and commerce and any income generating business as may be prescribed by the CBN from time to time.

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Objectives of the MSMEDF

The broad objective of the Fund is to channel low interest funds to the MSME sub-sector of the Nigerian economy through PFIs to:

• Enhance access by MSMEs to financial services;
• Increase productivity and output of microenterprises;
• Increase employment and create wealth; and
• Engender inclusive growth

Eligible Activities under the MSMEDF

In line with the provisions of the Revised Microfinance Policy, Regulatory and Supervisory Framework for Nigeria, enterprises to be funded under the Scheme include:
a) Micro Enterprises
b) Small and Medium Enterprises (SMEs)
The following are eligible activities under the Fund:
Microenterprises

• Agricultural value chain activities
• Cottage Industries
• Artisans
• Services
• Renewable energy/energy efficient product and technologies
• Trade and general commerce
• Other economic activity as may be prescribed by the CBN

Click Here To See How To Apply For MSMEDF