Categories: Business Morning

Low Interest Loans Will Support MSMEs’ Development in Nigeria – Financial Analysts

The recent launch of  Nigeria’s Industrial Revolution plan (NIRP) and the National Enterprise Development Programme (NEDEP), by the Federal Government of Nigeria took the front burner on Friday’s edition of Business Morning.

The MD/CEO of Coleman Wires & Cables, George Onafowokan and the Executive Secretary, National Association of Small & Medium Enterprises, Eke Ubiji, who were guests on Channels Television’s Business Morning, threw their weights behind the initiative, but called for the participation of other stakeholders to actualise the vision.

According to them, the financial sector could play their part by making funds available through loans to small scale businesses.

They also say that all hands must be on deck to ensure the promotion of local content as this will also go a long way in driving the government’s industrial revolution.

They, however, called for the quick creation of a master plan on how it will be implemented and added that the revolution must cut across all sectors of the economy, as the plan is aimed at ushering in a new era for industrial, micro, small and medium enterprises development in Nigeria.

Speaking during the launch on Wednesday in Abuja, President Jonathan described the NIRP as the most ambitious and comprehensive road map that would transform the nation’s industrial landscape, boost skills development, enhance job creation and conserve foreign exchange.

Channels Television

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