Nigeria earmarks ₦50 billion to help startups/SMEs pay salaries

As part of its post pandemic economic sustainability plan Nigeria is planning to help startups and SMEs go recover from the pandemic. Some of the goodies are:

  1. ₦50 billion payroll support for SMEs/Startups
  2. To create a million tech jobs in digital sourcing
  3. ₦10 billion to support Agric and female led businesses.
    I’ll keep my skepticism to myself but what do you guys think?

I think it’s a nice initiative, at least the government is having the people’s interest at heart and the plan would be available till next year, I think they are ready to help.

I hope this comes to reality and not just a political promise :roll_eyes:

The central bank has been disbursing funds to small businesses to water down the effect of Covid 19. We’ve succeeded in applying for the loans on behalf of several SMEs. And yes Businesses are being granted loans. Send us an email hello@sidebrief.com to find out if you qualify.

We all know how every amazing government owned ideas and project ends. I hope this won’t be like others pending social palliative projects and programs.

Well, i am wearing mine like toga, i have no faith in this current govt, especially at the fed level…walahi, they remind me of that medusa chic, they turn anything good to stone, then crush you with it …nonsense and ingredient

Nigeria earmarks ₦50 billion to help startups/SMEs pay salaries.

Anything government says that ends with SALARIES na scam to me o, that singular word na red flag , period!
plus where the data and how do they indeed to screen and pre-qualify candidates for this. This guys lack the slightest idea of who and what a start-up looks like let alone to identify one.

They could run it like the CBN SME loans that they have been supposedly disbursing.

Just what I was also thinking. I hope measures are put in place to make sure the money get to the right people.