L
LequteMan
Guest
Nigeria- The Federal Government on constituted a committee that will ensure easy access to its N220 billion Small and Medium Enterprises (SMEs) Fund.
Briefing newsmen on the outcome of the inaugural meeting of the National Council on SMEs, Minister of Industry, Trade and Investments, Dr Olusegun Aganga, said Minister of National Planning, Dr Abubakar Suleiman, would head the committee.
According to Aganga, only nine state governments had so far accessed the Federal Government's N220 billion Small and Medium Enterprises (SMEs) Fund meant to assist small time entrepreneurs in their states.
``Our deliberation today focused on one of the biggest barriers to growth of that sector that is to do with access to affordable finance.
``After extensive deliberation, council concluded that there was need to ensure that there was clear guideline available to all Nigerians, there was need to raise awareness to all Nigerians that this fund is available and this is how you access it and this is where you go to access it.
‘‘Accordingly, a small committee was set up by the chairman, the Vice-President, Alhaji Namadi Sambo.’’
According to Aganga, 19 other states of the federation have started the process of accessing the fund.
He noted that Federal Government set up the Council to coordinate the affairs of an import sector as the SMEs which, he said, contributed about 45 per cent of Nigeria's Gross Domestic Product (GDP), yet saddled with difficulty in accessing finance.
Gov. Ibrahim Dankwambo of Gombe State, who also addressed the correspondents, said the states which had not begun the process of accessing the fund were charged to immediately commence the process as ‘the SMEs remain critical to national development.’
#Nigeria
Briefing newsmen on the outcome of the inaugural meeting of the National Council on SMEs, Minister of Industry, Trade and Investments, Dr Olusegun Aganga, said Minister of National Planning, Dr Abubakar Suleiman, would head the committee.
According to Aganga, only nine state governments had so far accessed the Federal Government's N220 billion Small and Medium Enterprises (SMEs) Fund meant to assist small time entrepreneurs in their states.
``Our deliberation today focused on one of the biggest barriers to growth of that sector that is to do with access to affordable finance.
``After extensive deliberation, council concluded that there was need to ensure that there was clear guideline available to all Nigerians, there was need to raise awareness to all Nigerians that this fund is available and this is how you access it and this is where you go to access it.
‘‘Accordingly, a small committee was set up by the chairman, the Vice-President, Alhaji Namadi Sambo.’’
According to Aganga, 19 other states of the federation have started the process of accessing the fund.
He noted that Federal Government set up the Council to coordinate the affairs of an import sector as the SMEs which, he said, contributed about 45 per cent of Nigeria's Gross Domestic Product (GDP), yet saddled with difficulty in accessing finance.
Gov. Ibrahim Dankwambo of Gombe State, who also addressed the correspondents, said the states which had not begun the process of accessing the fund were charged to immediately commence the process as ‘the SMEs remain critical to national development.’
#Nigeria