NACCIMA bemoans OPS exclusion from N220bn MSMEDF guidelines

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has expressed concerns over the exclusion of the organised private sector (OPS) from the guidelines for the N220 billion Micro, Small and Medium Enterprises Development Fund (MSMEDF).

However, it said the inclusion of the association and the Manufacturers Association of Nigeria (MAN) as members of the steering committee for the administration and management of the fund would consolidate the spirit of public-private partnership (PPP).

President Goodluck Jonathan recently launched the disbursement of the N220 billion MSMEDF to prop the growth of the MSMEs in the country. As much as NACCIMA commends the move, it also says it will be willing to see collateral relaxation by banks and also share the experiences of other countries (like Indonesia) that have made success in micro financing.

Badaru Mohammed Abubakar, national president, NACCIMA, also raised concerns over the continued delay in the presidential assent of the 2014 budget, insisting that it dislocates proper planning by both the private sector on one hand, and the ministries, departments and agencies (MDAs) on the other hand.

“We, therefore, wish to counsel that the executive and the legislature at the federal and state levels should strictly adhere to the extant practice of timely crafting, presentation, debate, passage and signing of the annual national/state budgets latest by mid-December and for the president/governor to sign and subsequently announce same to the citizens on January 1 of every year in the overall interest of the nation,” he said, during the review of state of the nation on Tuesday in Lagos.