National Enterprise Development Programme (NEDEP) Loan 2022 for SMEs and Cooperatives

CBN Grant for 2023 is currently ongoing...........Fill the form below

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NEDEP Loan 2022: Apply for National Enterprise Development Programme Loan 2022 For SMEs And Cooperatives @ nedep.boinigeria.com.

The Micro, Small and Medium Enterprises (“MSME”) represents one of, if not the most important sector of our economy. It currently represents 96% of the businesses in Nigeria and contributes 75% of the National employment. Of the 17.2 million MSMEs in Nigeria, over 17 million are micro-enterprises.

Thus, growth in this sector is directly correlated with growth in the economy as a whole and in the level of employment throughout Nigeria.

There is no doubt that a nurtured and well structured MSMEs sub-sector can contribute significantly to employment generation, wealth creation, poverty reduction and sustainable economic growth and development in Nigeria.

However, a number of challenges are inhibiting the potentials of MSMEs in Nigeria. Prominent among these challenges are:

a) Very low access to affordable finance.
b) Poor access to Business Development Service (BDS), and
c) Inadequate infrastructure/high cost of doing business.

For example, a recent National Bureau of Statistics (NBS)/SMEDAN survey of MSMEs reported that 73.24% of the topmost priority of assistance needed by MSMEs’ operators is finance.

How To Apply NEDEP Loan 2022