The new N100m loan scheme Nigerian micro-entrepreneurs initiative is set to expand access to finance for small business owners across the country, targeting grassroots operators often excluded from traditional banking systems.
The funding programme is designed to support traders, service providers, and informal sector players through structured micro-lending channels, improving financial inclusion and enterprise growth.
Access to capital remains a major constraint for Nigeria’s micro and small businesses, particularly in urban and peri-urban communities where informal enterprises dominate economic activity.
Many entrepreneurs face barriers such as collateral requirements and limited credit history, restricting their ability to scale operations.
The new N100m loan scheme Nigerian micro-entrepreneurs initiative responds to this gap by leveraging microfinance institutions to deliver funding directly to underserved groups.
The programme is structured to bypass conventional banking limitations and strengthen economic participation at the base of the pyramid.
The initiative, launched in partnership with NEAT Microcredit and coordinated by the Coalition of Microfinance Bank Operators in Nigeria, channels funds through grassroots lending institutions.
This structure ensures that financing reaches individuals who are actively engaged in small-scale economic activities.
Speaking on behalf of the Chairman, Dr Iredele Oyedele, the Executive Director of the coalition, Micheal Ogbaa, said, “Commercial banks often exclude people at the grassroots, but our members are positioned to reach them.”
The scheme provides low-interest loans with flexible repayment plans, allowing eligible beneficiaries to access up to N5m depending on their business track record and credibility.
Approximately 90 per cent of beneficiaries are women, reflecting a focus on strengthening household income stability and community-level commerce.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” Ogbaa added.
The pilot phase has commenced in Lagos and is expanding to Abuja and Enugu, with plans to reach other regions including the South-West, South-East, and North-East.
Twelve micro-lending institutions have already accessed the fund, while 85 additional applications are under review.
The new N100m loan scheme Nigerian micro-entrepreneurs programme signals a shift toward decentralised financing models that prioritise accessibility and trust-based lending.
For urban entrepreneurs, this presents an opportunity to secure working capital without the traditional constraints of commercial banking.
The initiative also highlights the growing role of microfinance networks in Nigeria’s economic ecosystem.
For investors and development partners, it offers a scalable model for funding informal sector growth while maintaining transparency and accountability.
For small business owners, the key takeaway lies in building verifiable business records and maintaining credibility, as eligibility depends on track record and integrity.
