By James Emejo and Folalumi Alaran
The Minister of State for Industry, Trade and Investment, Mrs. Mariam Katagum, has called for accessible financing for the Micro, Small and Medium Enterprises (MSMEs) at single-digit interest rate.
The minister specifically tasked the financial sector to continue to support the federal government’s initiatives to boost affordable financing to small businesses by granting cheap credit to the MSMEs sector at single digit.
She made the call in her remarks at the virtual Ecobank MSME and Financial Inclusion Summit themed: “Unlocking Credit Growth in a Changing MSME Lending Landscape”.
Katagum, said as partners in progress, “I charge Ecobank Plc and the financial sector as a whole, to continue to provide the much-needed support for federal government initiatives by facilitating and granting accessible financing for the MSME sub-sector, at single digit. I repeat at single digit.”
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Daily Post Nigeria
Published
The Federal Government on Thursday, disbursed N27 billion to Micro Small and Medium Enterprises (MSMEs) as part of the MSMEs Survival Fund Scheme.
This was disclosed by the Minister of State, Industry, Trade and Investment, Amb. Mariam Katagum, while addressing newsmen on Thursday, in Abuja.
The minister revealed that the government would open portal for the last phase, February 9.
According to her, the Steering Committee for the Survival Fund would turn in its reports to the Ministry of Finance as well as await the second tranche of the fund.
Katagum, who is also the Chairperson, Steering Committee, MSME Survival Fund and Guaranteed Off-Take Schemes (GOS), said the existing schemes were progressing seamlessly.
James Emejo and Folalumi Alaran in Abuja
The Minister of Industry, Trade and Investment, Mr. Niyi Adebayo, said the federal government has so far disbursed a total sum of N12.4 billion to micro, small and medium sized enterprises (MSMEs) through the Bank of Industry (BoI) as part of efforts to mitigate the impact of the COVID-19 pandemic.
Speaking at the opening of the 12th meeting of the National Council on Industry, Trade and Investment (NCITI), in Abuja, with the theme:”Revitalisation of the Industry, Trade and Investment Sector in Nigeria in the Post COVID-19 Pandemic Era,” he said the risks of the pandemic was being mitigated by the government by exploring ways to catalyse and sustain production, creating supply chains, preventing market disruption through efforts to alleviate the financial impact on small businesses.