Home Business 5% credit facility to MSMEs a welcome development- Iyalode Alaba Lawson
5% credit facility to MSMEs a welcome development- Iyalode Alaba Lawson

5% credit facility to MSMEs a welcome development- Iyalode Alaba Lawson

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At the maiden edition of the MSME Award on 2nd August 2018, the Vice President, H.E Yemi Osibajo, SAN announced that government will institute a 5% credit facility for Micro, Small and Medium Enterprises (MSMEs) to stimulate the economy.

This initiative is a welcome development for Nigeria’s economy and NACCIMA is in full support of the scheme, as it would further stimulate the productive sectors of the economy, create jobs and provide new opportunities for the MSME operators.

This initiative with its single digit credit facility which we have been
clamouring for, if well managed, will boost activities in the MSME sector. In the process of its implementation, we call on the Federal Government to ensure that Organized Private Sector and other stakeholders play active role in the operationalisation of the new initiative.

Nigeria Association of Chambers of Commerce, Industry, Mines and
Agriculture (NACCIMA) as the apex body of all Chambers of Commerce in
Nigeria with membership cutting across all sectors of the economy and
membership presence in all states of the federation, is ready to partner
with the Federal Government in ensuring access and the proper
utilisation of the loan facility.

Iyalode Alaba Lawson MFR FIoD JP
National President, NACCIMA

6th August 2018

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