The Federal Government has said, “We will give N75 billion to help small businesses.” This is big news for our country because small businesses need this help, especially now.
Why is This Money Given to help small businesses
Our country has had some tough times with its money and jobs. Because of this, many small businesses are finding it hard to continue.
They don’t have enough money to buy things or pay their workers.
The Federal Government understands this problem. That’s why they are giving this big amount of N75 billion.
They hope it will make things better for these businesses and our country.
When Will This Happen?
The plan is to start giving out this money in March 2024. That’s not very far away!
Who Told Us About This?
A very important person, the Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite, talked about this.
She told everyone during a big event called the Abuja International Trade Fair (AITF). But on that day, another person, Kaura Irimiya, spoke on her behalf. He is the Director of Commodity and Export.
What Else Did They Say?
They said the main idea is to help companies that make things, like toys, clothes, or tools. This is called the manufacturing sector. But that’s not all.
The Federal Government also wants to give small amounts of money to very tiny businesses in all parts of our country. We have 774 local areas where people live and work, and the government wants to help businesses in all these places.
What Do Other People Think?
Another important person, Nyesom Wike, had something to say. He takes care of a big place called the Federal Capital Territory (FCT).
He said he wants private companies to work together with the government. By doing this, they can make the FCT better for business.
He also talked about money that the FCT gets by itself. This is called internally generated revenue (IGR). He wants more of this money. So, he is asking private companies to come, work, and invest in the FCT.
He promised, “If you come and work here, we will make sure you have all you need. We will build good roads and other things to help you.”
Another person, Dr. Al-Mujtaba Abubakar, talked about how people and businesses can use their money in good ways.
He said the AITF is a place where businesses from different countries come together. Many people, over 500,000 of them, come to see and buy things. This helps businesses meet new people and sell their things.
Why is This Important for Us?
Small businesses are like the heart of our country. When they are strong and healthy, our country is also strong and healthy. They give jobs to many people.
When these businesses have problems, many people can lose their jobs. So, this N75 billion from the Federal Government is like medicine for these businesses. It will help them grow and give more jobs to people.
Imagine a family where the parents work in a small shop. If the shop has problems, the family will also have problems.
They might not have enough money for food, school, or other things. But if the shop gets some of this N75 billion, it can do better. The family will be happy, and our country will also be happy.
In Simple Words…
The Federal Government wants to help small businesses with N75 billion. They will start in March 2024. This money will help businesses that make things and very tiny businesses in all parts of our country. Many important people have talked about this. They all want our country to do better. This money is a big step to make our country’s businesses strong and healthy. We all hope for the best