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Focus campaigns on solving national challenges, NBC charges politicians

By Ngozi Egenuka
28 January 2023   |   3:09 am
Deputy National Secretary, Nigerian Business Communities (NBC) for Atiku/Okowa, Sam Aiboni, yesterday, said political campaigns and rallies should focus on solving real national issues in the country and not otherwise. He said there are fundamental problems such as access to capital for businesses in Nigeria. He said this during a discussion in Lagos to deliberate…

Deputy National Secretary, Nigerian Business Communities (NBC) for Atiku/Okowa, Sam Aiboni, yesterday, said political campaigns and rallies should focus on solving real national issues in the country and not otherwise.

He said there are fundamental problems such as access to capital for businesses in Nigeria.

He said this during a discussion in Lagos to deliberate on the disbursement of the proposed $10 billion stimulus fund planned by the PDP Presidential candidate, Atiku Abubakar, for Micro, Small and Medium Enterprises (MSMEs) in Nigeria.

Explaining that the party’s philosophy has always been liberal capitalism, he noted that the conversation focused on generation, allocation and spending of the proposed funds.

He stated that MSME is a tool to move the economy forward and PDP has set structures to achieve this.

“Small business needs capital not loans, capital which is long term investment and its reward is profit and not interest. So, access to capital is the focus. A young man that just comes out of school cannot just go to the capital market for funds or have access to funds without lending rates that are obnoxious,” he said.

The panelist included finance and SME expert, Iwalewa Jacobs; Agriculture Consultant, Abubakar Bamai; Investment Banker, Joseph Edgar; Fintech and Marketing Consultant, Ladi Ogunseye and Real Estate expert, Kunis Ademola-Sadipe.

The panel discussed the importance of targeting the funds to the most in need and underfunded sectors of the economy, such as women-owned businesses and others in underdeveloped parts of the country.

They also emphasised the need for transparency and accountability in the disbursement process to ensure that the funds are used effectively.

The panel recommended the creation of a dedicated agency or programme to oversee the disbursement of the funds, with a focus on providing access to credit, mentorship, and training for MSMEs.

They also suggested measures to promote sustainable business practices and support for digital transformation.

Jacobs said, “SME’s should have access to advisory services which could help them better manage and scale up their businesses in a dynamic and difficult business climate. Given that one cannot give what one does not possess, the need for capacity building should not be overlooked. Entrepreneurship requires the acquisition of information and skills.”

 

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