The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has commended the various initiatives of the Federal Government which are schemed towards positive economic revitalization of the Small and Medium Scale Enterprises (SMEs) sector of the Nigerian economy.
The agency have declared it is particularly impressed with the recent roll out of a N50 billion intervention fund by Central Bank of Nigeria (CBN) for SMEs, as well as the resuscitation lately of the Vice President, Yeimi Ohinbajo led economic recovery team for the prime objective of creating 2 to 3 million jobs to revive the country’s SMEs sector.
Making this commendations was the Director General of SMEDAN, Dr Umaru Rada while speaking recently during an exclusive interview. He stated that the government’s initiative through the initial roll out of the N50 billion intervention fund by the CBN was quite commendable adding that the government move was capable to jump start operations and alleviate sufferings of Small and Media Scale Enterprises post the COVID 19 pandemic.
According to the agency boss, the government’s initiative of giving moratorium to all categories of loans offer to SMEs was a step in the right direction, including loan offers by Bank of Industry (BOI) as well as the chunk of other loans coming from commercial banks and macro finance banks across the country.
In views of the SMEDAN chief executive, Nigeria has one of the highest number of SME’s in Africa and the sector remains one of the most important and key sector to the economic development of the entire country. He added that with the employment of well over 60 million of Nigeria’s population, the SMEs sector is one that needed to be accorded much greater attention by government.
“I think honestly we are facing a very difficult time because this is something that is happening globally. The economy of the Small and Medium businesses in the country has really suffered because of this COVID 19 pandemic that is happening all over the world and Nigeria is not an exception”
“Nigeria has one of the highest number of SMEs in Africa and this is a very very important sector of the economy which helps in the development of the entire economy of the country because it is the sector that employed about 60 million Nigerians, so, this is a sector that really needs to be given attention”.
“I thank the Federal Government for rolling out some plans by the Central Bank, especially the 50 billion that they rolled out for the MSME, so that the MSME can be able to survive the hardship they are facing under this current situation. And again, we are happy that the Federal Government also gave moratorium to all the loans given by the Federal Government including those ones from BOI and because of the other chunk of the loans that comes from commercial banks and macro finance banks”.
“I think we wrote a letter through our ministry to the CBN Governor, so that the CBN Governor through the Bankers Committee can sit down and look at these issues from the macro finance bank perspective where most of the macro and small businesses got there facilities and also to look at the facilities given by the commercial banks, so that they can show a face of humanity by trying to reduce the moratorium, the interest rate to enable these businesses to survive”
“This is the engine room of economic development of this nation and we shouldn’t play with it, and again, we must thank the Federal Government for substituting the economic sustainability to the team headed by the Vice President of this country. I happen to be part of the sub- committee on Job creation, where the Federal Government is looking at how they can sustain and create about 2 to 3 million jobs within this period to can give a kind of relief to people under this sub sector of the economy” he added.
I’m curious to find out what blog system you have been utilizing?
I’m having some minor security problems with my latest website
and I’d like to find something more safe. Do
you have any solutions?
It’s in point of fact a nice and helpful piece of information. I’m satisfied that you shared this useful information with us.
Please keep us informed like this. Thank you for sharing.
Hi there, I think your site may be having browser compatibility issues.
Whenever I look at your site in Safari, it looks fine but
when opening in I.E., it has some overlapping issues. I simply wanted to give you a quick heads up!
Aside from that, great website!
I think that what you said was actually very logical.
However, what about this? suppose you typed a catchier title?
I ain’t saying your content isn’t solid, however what if you added
a post title that makes people desire more? I mean COVID 19:
SMEDAN Commend FG’s Economic Recovery Plan for SMEs Sector.
– thenewnarrativeonline is kinda plain. You ought to glance at Yahoo’s home page and watch how they create news titles to grab people to click.
You might add a video or a pic or two to get people excited about everything’ve written. Just my opinion, it might
bring your posts a little bit more interesting.
Can I simply just say what a relief to uncover somebody who
actually understands what they’re talking about on the web.
You actually realize how to bring an issue to light and make it important.
A lot more people must look at this and understand this side of the story.
I was surprised that you aren’t more popular since you definitely possess the
gift.
You actually make it appear really easy along with your presentation but I to
find this topic to be really one thing which I feel I’d by no
means understand. It seems too complicated and very vast for me.
I am having a look forward to your next submit, I will attempt to get the hang of
it!
Sweet blog! I found it while surfing around on Yahoo News.
Do you have any suggestions on how to get listed in Yahoo News?
I’ve been trying for a while but I never seem to get there!
Thanks
I just want to mention I am new to blogging and certainly loved you’re page. More than likely I’m want to bookmark your website . You amazingly come with very good articles. With thanks for sharing your web-site.
I’m amazed, I must say. Rarely do I encounter a blog that’s equally educative and interesting, and let me tell you, you’ve
hit the nail on the head. The issue is an issue that too few people are speaking intelligently about.
I’m very happy I stumbled across this during my search for something
regarding this. 32hvAj4 cheap flights
Howdy! I could have sworn I’ve been to this blog before but
after browsing through many of the posts I realized it’s new to me.
Anyways, I’m definitely delighted I discovered it and I’ll be book-marking it and checking back often!
high line pointe denver
high line pointe denver
high line pointe apartments
adeline bababikov
high line pointe apartments
south denver apartments
high line pointe denver
adeline bababikov
You are my aspiration, I own few web logs and often run out from to post .
Geciktirici hap eczane satış sitemizden erken boşalmayı önleyen geciktirici hap ve spreyleri en ucuz fiyatı ile sipariş verebilirsiniz. yorum imkanı için teşekkür ederiz.thank you so much. Kamagra jel Thanks for sharing.
WOW just what I was searching for. Came here by searching for keyword|