The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture has commended the Federal Government for its recent decision to establish a five per cent credit facility for the Micro, Small and Medium Enterprises sector.
At the maiden edition of the MSME Award on August 2, the Vice President, Prof Yemi Osinbajo, announced that government would institute a five per cent credit facility for the MSME sector to stimulate the economy. Describing the initiative as a welcome development, NACCIMA expressed support for the scheme, noting that it would further stimulate the productive sectors of the economy, create jobs and provide new opportunities for 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 the organised private sector and other stakeholders play active roles in the operations of the new initiative,” the National President, NACCIMA, Chief Alaba Lawson, said in a statement on Thursday.
She pledged the association’s readiness to collaborate with the Federal Government in ensuring access and the proper utilisation of the loan facility.