The Central Bank of Nigeria has said that the 238.87 per cent increase in the allocation for the Small and Medium Enterprises Development Agency of Nigeria to N19.79bn in the 2024 budget is an indication of the Federal Government’s commitment to boosting the business environment. CBN’s Deputy Governor, Economic Policy, CBN, Muhammad Abdullahi-Dattijo, disclosed this on Tuesday during a keynote address at the 10th National Economic Outlook: Implications for Businesses in Nigeria 2024, organised by the Chartered Institute of Bankers of Nigeria. Abdullahi-Dattijo, who was represented by the Director of the Monetary Policy Department, Mohammed Musa Tumala, revealed that the allocation to SMEDAN rose to N19.79bn in 2024 from N5.84bn in the previous budget. He said, “Like a builder, the 2024 budget lays bricks for the future, prioritising critical infrastructure and human capital development. We have seen allocations for education, healthcare, infrastructure and other key sectors of the economy geared toward human development and growth. “In terms of allocation, there is increased government focus in spurring foreign and domestic investment, as well as growth of small and medium enterprises. “For instance, allocation to the Small and Medium Enterprises Development Agency of Nigeria  increased by 238.87 per cent to N19.79bn in 2024, compared with N5.84bn allocation in 2023.”

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