President Bola Ahmed Tinubu has explained why his administration established the ₦200 billion intervention fund to support micro, small, and medium enterprises (MSMEs) and manufacturers, saying it became necessary to assist them in boosting competitiveness and addressing structural challenges.
He said beyond the GDP growth of 4.23 per cent recorded in September 2025, the economic reforms spearheaded by his administration have started yielding tangible results across sectors, surpassing projections from multilateral agencies and indigenous economic experts.
President Tinubu who stated this in Abuja on Monday when he officially declared open the 31st Nigerian Economic Summit, noted that the belief in the nation’s economic experts had been the magic wand behind his administration’s ongoing reforms.
Represented at the summit by his deputy, Vice President Kashim Shettima, the President maintained that all decisions taken by his administration had been “guided by the pursuit of balance between economic logic and public expectation.”
Stating why the administration established the ₦200 billion intervention fund to support MSMEs and manufacturers, President Tinubu restated his administration’s resolve to rekindle hope for poor, vulnerable and jobless Nigerians by creating corridors for them, especially the youth, to access loans, grants and equity investments.
Earlier, the Minister of Budget and Economic Planning, Senator Atiku Bagudu, lauded the partnership between his ministry and the NESG, saying it had blossomed for over 30 years, ensuring public and private cooperation for the development of the Nigerian economy while the Chairman of the NESG, Mr Olaniyi Yusuf, advised relevant stakeholders and authorities to address security as an enabler of reforms, noting that without peace, reforms cannot take root, investors cannot take risks, and Nigerian youths cannot find opportunities for prosperity.
