Nigerian Lawmakers Approve Special Bank For Entrepreneurs

The House of Representatives has passed for second reading, a bill seeking to establish an Entrepreneurship Development Bank of Nigeria, with the aim of providing soft loans for small and medium-scale enterprises in the country. <br />The consolidated bill was jointly sponsored by Mr Benjamin Kalu and Olalekan Afolabi <br />Kalu says the proposed bank would be charged with the responsibility, among other things, of providing medium and long-term finance for indigenous small businesses. <br />He added that the bill, which July 18, 2019, focuses on Nigerian youths and contemplated providing improved access to finance for youth entrepreneurs in innovation, manufacturing, agriculture and trade.