In a bid to strengthen Nigeria’s entrepreneurial landscape, the Federal Government has unveiled a new financing initiative aimed at providing 6,122 Micro, Small, and Medium Enterprises (MSMEs) with access to low-interest loans under the SMEDAN Inspire–Create–Start–Scale (ICSS) programme.
The initiative, launched on Tuesday in Abuja, is a collaborative effort involving the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), the German development agency Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), and Kaduna Business School, with implementation support from GOPA Worldwide Consultants.
The loans would be administered by Jaiz Bank.
Under the scheme, START loans would provide N250,000 to N2 million, while SCALE loans would range from N1 million to N5 million.
The programme is designed to facilitate access to finance for entrepreneurs who have viable business plans but have historically struggled to secure funding.
Minister of Youth Development, Ayodele Olawande, described limited access to finance as one of the most pressing barriers facing young entrepreneurs and underserved communities.
He emphasised that the initiative is a strategic investment aimed at productivity and sustainable economic growth rather than a mere social intervention.
“Training alone is not enough. We must pair it with mentorship, financing, and market access to ensure young entrepreneurs can transform ideas into thriving businesses,” Olawande said, highlighting green growth, digital transformation, and skills development as priority sectors.
SMEDAN Director-General, Charles Odii, explained that the ICSS programme ststandardised ntrepreneurship training to meet global best practices, positioning graduates to become bankable and investment-ready.
“Many MSMEs have undergone training in the past but could not access funding.
” ICSS ensures that every graduate with a viable business plan can immediately qualify for financing,” Odii stated.
He added that loans were intended to fund productive assets such as machinery, tools, and equipment to help scale operations and generate employment.
While the programme’s pilot phase currently involves 100 entrepreneurs, the ultimate target is 6,122 beneficiaries nationwide, with particular focus on women- and youth-led enterprises.
Dr. Karen Jansen, Head of Development Cooperation at the German Embassy, reaffirmed Germany’s commitment to supporting Nigeria’s MSME sector, describing the ICSS model as a sustainable approach that combines training, mentorship, and responsible financing.
One of the beneficiaries, Rukayat Yusuf, who operates in natural cosmetics and agro-processing for export, said the initiative would enable women entrepreneurs to expand production capacity and access new markets.
The launch drew government officials, development partners, financial institutions, and private sector stakeholders, highlighting a coordinated effort to empower MSMEs as engines of economic growth.
