Director-General, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Alhaji Bature Masari, has called for improved funding of the Small and Medium Enterprises (SMEs) sector.
Speaking in Abuja, he said: “The issue of funding is critical to the sector as proper funding of SMEs is the only way to address the problem of poverty and create wealth in the country”.
According to him, adequate funding of the sector will go a long way in ensuring the growth and sustainability of small and medium-scale enterprises.
The director general said SMEDAN remained committed to helping SMEs to surmount all challenges stalling their growth.
Masari said the agency was also set to collaborate with donor agencies, financial institutions and other government agencies that could aid the sustainability of the micro, small and medium enterprises (MSMEs).
He stressed the need for Micro Finance Banks (MFB) to lower the lending rate for SMEs operators.
He said SMEDAN would collaborate with operators of MFBs to ensure greater access to funding for the development of SMEs.
“I want to urge MFBs to be prepared because in 2014, SMEDAN will be actively collaborating with them.
“But between now and the end of the year, some banks are going to be selected for the implementation of some SMEDAN programmes.
“The programmes are geared toward providing employment opportunities to ordinary Nigerians.
“However, it is only those MFB which offer the highest incentive by way of low lending rates that will be involved in the implementation of the programmes.’’
