NBC urge political candidates to focus on solving national issues

Deputy National Secretary, Nigerian Business Communities (NBC) for Atiku/Okowa, Sam Aiboni, called for political campaigns and rallies to be focused on solving real national issues.

He emphasised that there are fundamental problems such as access to capital for businesses and systems that ensure economic growth.

This was disclosed over the weekend at a panel discussion in Lagos to discuss the disbursement of the proposed 10 billion dollars stimulus fund proposed 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 of the event 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 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 businesses 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 program to oversee the disbursement of the funds, with a focus on providing access to credit, mentorship, and training for MSMEs.

They also suggested implementing measures to promote sustainable business practices and support for digital transformation.
 
Jacobs, said “SME’s should have access to advisory services which can 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.”