Fidelity Bank Plc has announced plans to disburse N5 billion in new financing to support Micro, Small, and Medium Enterprises (MSMEs) across Nigeria, reaffirming its commitment to driving inclusive economic growth.
The initiative, unveiled in Lagos, is designed to improve access to affordable credit for entrepreneurs in critical sectors such as agriculture, manufacturing, fashion, and digital services. The bank said the new facility will help bridge the financing gap faced by small businesses and stimulate job creation nationwide.
Speaking on the development, a Fidelity Bank official said the N5 billion fund represents part of the bank’s broader SME support strategy, which includes business advisory, digital banking tools, and training programs to strengthen business resilience and innovation.
Over the years, Fidelity Bank has built a reputation as a key driver of Nigeria’s MSME ecosystem, offering targeted interventions such as the Fidelity SME Funding Initiative and partnerships with government agencies to expand financial inclusion.
According to recent data from the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), MSMEs contribute nearly 50% to Nigeria’s GDP and employ over 80% of the country’s workforce, yet face persistent challenges accessing formal financing. Fidelity Bank’s move seeks to close this gap and empower more businesses to scale.
Industry experts note that such private-sector-led funding is essential to sustaining Nigeria’s economic recovery amid inflation and exchange rate volatility. By channeling capital to productive ventures, the N5 billion fund could boost competitiveness and innovation across local industries.
Analysts also point out that consistent follow-through and monitoring will be key to ensuring that the facility reaches entrepreneurs who need it most, particularly women-owned and rural enterprises that remain underserved. With this development, Fidelity Bank reinforces its position as one of Nigeria’s leading financial institutions committed to social impact and national development through strategic financial empowerment