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.
The consolidated bill was jointly sponsored by Mr Benjamin Kalu and Olalekan Afolabi
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.
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.