Micro, Small and Medium Scale Enterprises (MSMEs) to benefit from the 50 Billion Targeted Credit Facility (TCF)

The Central Bank of Nigeria, in its efforts to assist and provide cashflow to individuals and businesses adversely affected during the Covid-19 lockdown, has introduced the 50 Billion Targeted Credit Facility (TCF).

This scheme which is supported by the Abuja Enterprise Agency, is expected to reach out about 3,256 individuals and businesses.

Follow these quick steps to access the fund:

  1. Submit an application to Nirsal Microfinance Bank via your phone, tablet and laptop, with clear evidence of the opportunity or adverse impact of the Pandemic.
  2. Await approval of your application by NIRSAL and the Central Bank

If your application is approved by the Central Bank, then the process of disbursement will be communicated to you by NIRSAL Microfinance Bank.

To begin your application, visit nmfb.com.ng

Zenith Bank Promotes Women Empowerment

Nigeria’s leading financial institute, Zenith Bank Plc has introduced a new merchandise, Z-Woman, which is focused on endowing female business owners.

Z-Woman account holders stand a chance to experience loans of up to N10 million at a single digit interest rate, free digital skills training, free exhibition stands at Zenith Bank events and many other benefits which will help them grow their businesses and increase their sales.

According to the Group Managing Director/ Chief Executive of Zenith Bank, Mr. Ebenezer Onyeagwu, Z-Woman offers women the opportunity to enjoy a partnership with the Zenith Bank brand as the name Z-Woman implies. The Z-Woman account is designed to address the unique needs of women-owned businesses and offer them unmatched services that empowers them to do more and achieve more.

To learn more about Z-Woman, please visit www.zenithbank.com/zwoman

Call for Enrollment for the NIRSAL PLC Agro Geo-Cooperative Formation Process

The Nigerian Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL PLC) is calling on all smallholder farmers, farmer leaders and aggregators to key into its Agro Geo-Cooperative model created for the purpose of sustainable farm/field structuring and governance, to enable sustainable access to finance, quality inputs and structured markets through NIRSAL’s facilitation.

The exercise aims at creating 16,000 Agro Geo-Cooperatives (ranging from 10 hectares to 20,001 hectares and above) on 4 million hectares of farmland and enrolling about 8 million farmers across Nigeria who are expected to produce about 12 million metric tonnes of Grain Product Equivalent (GPE) annually over the medium to long term.

It will also serve as a means of employment and a source of income generation for organised Agro Geo-Cooperatives during this pandemic.

To begin the enrollment process, click the link below:


Ministry of Agriculture and Rural Development inaugurates task force to avert food crisis

A few weeks ago, the Federal Government reduced the price of fertilizer from N5,500 to N5,000, reduced the price of fuel, increased the moratorium period on loans and also reduced the interest rate from 9% to 5%.

These measures were put in place to cushion the adverse effect of the Covid-19 pandemic and reduce some burden on Micro, Small and Medium Scale Enterprises (MSMEs), especially those whose businesses had to be put on hold due to the lockdown.

For the MSMEs in the Agricultural sector and value chain, activities have to carry on in order to prevent food shortages which will further add to the lingering issue of hunger and poverty in the country.

However, farmers and others involved in the Agricultural value chain currently have to deal with;

  • High cost of transportation of farm produce and other goods
  • Inadequate finance for commercial agriculture
  • Theft of farm produce on the transportation routes
  • Restrictions on movement of goods due to the lockdown and many others.

Consequently, the losses posed by the challenges are transferred to the consumers in form of high prices, affordable to some and outside the means of others.

The good news is that, the appropriate Ministries and Agencies have geared up towards tackling these challenges to ease the fears of food insecurity in the country.

Recently, the Minister of Agriculture and Rural Development, Alhaji Muhammad Sabo Nanono inaugurated the joint technical task team on emergency response to COVID-19 with the aim of facilitating free and unhindered movement of food, livestock and agricultural inputs and farmer’s movement across the nation, during the lockdown and the 2020 farming season to avert food crisis.

Therefore, it is safe to say that losses incurred by farmers will lessen soon and the purchasing power of food, livestock and agricultural inputs for every household .

Covid-19 Stimulus Package: Stabilizing the economy amidst the pandemic

The Corona virus pandemic remains the top headline in all media channels, affecting the old and young and causing a downturn in economic activities around the World.

However, to reduce the spread of the virus and track those that might be carrying the virus in Nigeria, the Federal Government imposed a 14-day lockdown in few states including the FCT, which began on the 30th of March 2020.

Consequently, the lockdown has taken a toll on the activities of Micro, Small and Medium Enterprises (MSMEs) as consumption habits have changed and only certain categories of businesses are allowed to carry on their activities. Thus, people may ask questions such as; what happens to the businesses on lockdown, how will they survive, how will they provide for their families and what is the government doing to ease their plight.

In its proactive measures to provide answers to the questions above, the Federal Government through the CBN, introduced a Covid-19 stimulus package to help households and small businesses hardest hit by the adverse impact of the coronavirus pandemic.

These packages come in the form of food packs and credit facilities and can be assessed via nmfb.com.ng which is the Nirsal Microfinance bank website.

As the Federal government gradually continues to make provisions for all categories of businesses under the Covid-19 stimulus package, we must ensure to take the necessary precautions to prevent the disease and stay healthy, as the saying goes: “where there is life, there is hope”

How to become a client of the Abuja Enterprise Agency

The tremendous impact of the Abuja Enterprise Agency on MSME Development and job creation in the FCT is no new news as the Agency has impacted on over 100,000 individuals with its services which includes training, counselling, market linkage, loans provision and rural community development.

Want to join the AEA family and gain access to our top-class services and opportunities? Follow the steps below:

  • Visit the AEA Entrepreneurial Complex at Jahi District, Abuja
  • Go on to the Customer Service Office on the 4th Floor
  • Fill the registration form and attach your passport, copy of I.D and copy of CAC certificate if any
  • Pay a token registration form of N5,000 for individuals and N10,000 for cooperatives
  • Collect your payment receipt
  • Welcome to the AEA family!!!!!!