MSMEs face $236bn funding gap as high-interest loans stifle growth

A recent report by Stears revealed that Nigeria’s MSMEs face a staggering $236bn funding gap and remain largely excluded from formal financial support despite their contribution to the economy. Only a small fraction of Nigeria’s 40 million MSMEs have access to bank loans, leaving the vast majority to rely on informal, high-interest credit sources, TEMITOPE

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