FG disburses N75bn to 104 manufacturers, N65.8bn to MSMEs

Nigeria’s federal government has fully disbursed the N75 billion Manufacturing Sector Fund to 104 businesses and paid N65.8 billion to 15,018 MSMEs as of the first quarter of 2026. The funds are part of a N200 billion intervention package managed by the Bank of Industry to support local production, business growth and job creation. Industry, Trade and Investment Minister Jumoke Oduwole said cement manufacturing grew by 11.53 per cent and motor vehicle assembly by 5.44 per cent in the first quarter of 2026. She said the impact of government funding should be judged by stronger businesses, increased production and improved livelihoods.