The Central Bank of Nigeria (CBN) is considering the recapitalisation and restructuring of Development Finance Institutions (DFIs) to close the financing gap for micro, small, and medium-sized enterprises (MSMEs).
Speaking at the Nigeria Development Update launch in Abuja, CBN Deputy Governor Muhammad Abdullahirevealed that Nigeria’s DFIs, with a total asset base of just N8 trillion, fall far short of the N130 trillion needed to support MSMEs.
Meanwhile, the Federal Government has unveiled a mass savings scheme to reduce reliance on borrowing and boost domestic investment. Finance Minister Wale Edun explained the initiative will allow Nigerians across income levels to invest and earn returns, including from companies like refineries and other stock-listed firms.
Edun noted that the scheme complements broader reforms, such as enhanced revenue tracking and expenditure control, aimed at strengthening public finances and attracting private capital.
