FG disburses N75bn to 104 manufacturers, N65.8bn to MSMEs
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Vanguard News
Reported by Oboh
Tue, 3 Nov 2026, 01:48
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Source Attribution: Vanguard News
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By Yinka Kolawole The Federal Government has fully disbursed the N75 billion Manufacturing Sector Fund to 104 manufacturing businesses, while N65.8 billion has been disbursed to 15,018 micro, small and medium enterprises (MSMEs) to boost domestic production, expand businesses and create jobs. The disbursements were made under the Federal Government’s N200 billion intervention package, managed by the Bank of Industry (BoI), to support businesses, boost domestic production and create jobs.
Context & Background
✦Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, disclosed this in an address on “Harnessing Nigeria’s Economic Potential for Greater Prosperity”.
Key Figures & Named Entities
2026:Oduwole noted that the N75 billion Manufacturing Sector Fund had been fully disbursed to 104 manufacturing businesses, while N65.8 billion had been disbursed to 15,018 businesses under the MSME Intervention Fund as of the first quarter of 2026.2026:Highlighting developments in the manufacturing sector, Oduwole said cement manufacturing grew by 11.53 per cent in the first quarter of 2026, while motor vehicle assembly expanded by 5.44 per cent during the period.2025:She added that vehicle assembly grew by 40.6 per cent in 2025, while cassava starch production recorded growth of 474.74 per cent.
Outlook & Next Steps
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Key Takeaways
Verified Extract
✦By Yinka Kolawole The Federal Government has fully disbursed the N75 billion Manufacturing Sector Fund to 104 manufacturing businesses, while N65.8 billion has been disbursed to 15,018 micro, small and medium enterprises (MSMEs) to boost domestic production, expand businesses and create jobs.
✦The disbursements were made under the Federal Government’s N200 billion intervention package, managed by the Bank of Industry (BoI), to support businesses, boost domestic production and create jobs.
✦Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, disclosed this in an address on “Harnessing Nigeria’s Economic Potential for Greater Prosperity”.
Key Facts:2026: Oduwole noted that the N75 billion Manufacturing Sector Fund had been fully disbursed to 104 manufacturing businesses, while N65.8 billion had been disbursed to 15,018 businesses under the MSME Intervention Fund as of the first quarter of 2026.2026: Highlighting developments in the manufacturing sector, Oduwole said cement manufacturing grew by 11.53 per cent in the first quarter of 2026, while motor vehicle assembly expanded by 5.44 per cent during the period.2025: She added that vehicle assembly grew by 40.6 per cent in 2025, while cassava starch production recorded growth of 474.74 per cent.
Editorial Excerpt
The package comprises N50bn Presidential Conditional Grant, N75bn FGN MSME Intervention Fund, and N75 billion FGN Manufacturing Sector Fund
Frequently Asked Questions About This Story
What is the key takeaway from this report?
By Yinka Kolawole The Federal Government has fully disbursed the N75 billion Manufacturing Sector Fund to 104 manufacturing businesses, while N65.8 billion has been disbursed to 15,018 micro, small and medium enterprises (MSMEs) to boost domestic production, expand businesses and create jobs.
What additional context is highlighted in this report?
The disbursements were made under the Federal Government’s N200 billion intervention package, managed by the Bank of Industry (BoI), to support businesses, boost domestic production and create jobs.
What timeline or key figures were confirmed?
Oduwole noted that the N75 billion Manufacturing Sector Fund had been fully disbursed to 104 manufacturing businesses, while N65.8 billion had been disbursed to 15,018 businesses under the MSME Intervention Fund as of the first quarter of 2026.
