The Federal Government has fully disbursed the N75 billion Manufacturing Sector Fund to 104 manufacturing enterprises across the country, alongside N65.8 billion allocated to 15,018 micro, small, and medium enterprises (MSMEs) under the Presidential MSME Intervention Scheme.
​The dual intervention, totaling N140.8 billion, aims to inject liquid capital directly into local production lines, enable industrial scale-ups, and stimulate workforce expansion amidst nationwide economic stabilisation efforts.
​The update was delivered during an executive media briefing held on Tuesday morning at the Federal Ministry of Industry, Trade and Investment in Abuja. Addressing journalists and economic stakeholders, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, detailed the administration’s strategic focus on verifiable output rather than mere credit delivery.
​”The true measure of government funding lies in strengthened business balance sheets, higher industrial capacity utilization, and measurable job creation,” Dr. Oduwole stated.
Access to affordable long-term financing has historically constrained domestic producers. By targeted deployment of these interventions, we are directly dismantling operational bottlenecks to foster a resilient industrial ecosystem.”
​The disbursed funds are expected to assist local manufacturers and small businesses in securing critical raw materials, purchasing modern industrial machinery, and scaling domestic output to compete under the African Continental Free Trade Area (AfCFTA) framework.
​Federal officials reaffirmed that rigorous monitoring mechanisms remain active to track the operational performance and economic output of beneficiary enterprises over the coming fiscal quarters.
