Small and medium enterprises (SMEs) across Nigeria are set to benefit from a new low-interest loan program launched by the Federal Government.
The initiative aims to support young entrepreneurs, manufacturing startups, and small business owners affected by economic challenges.

The loans, ranging from ₦500,000 to ₦5 million, will be distributed through selected commercial banks.
Business owners welcomed the move, saying access to affordable financing will help them expand operations and hire more workers.

Economic analysts cautioned that proper monitoring is necessary to ensure funds are used for business development and not diverted for personal expenses.
The government promised strict oversight mechanisms to ensure transparency.