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Jonathan’s Government Eases Access To N220 Billion Fund For Medium, Small Scale Business People


President Goodluck Jonathan’s National Council on Micro, Small and Medium Enterprises (MSMEs) has now eased access to the N220 Billion which the Central Bank of Nigeria (CBN) instituted for Small and Medium Scale Entrepreneurs.
Vice President Mohammed Namadi Sambo, who presided over a meeting of the stakeholders in the system today at the Presidential Villa, called on Nigerians to go ahead and access the fund.
Namadi Sambo asked the relevant stakeholders to mount publicity campaign to would-be beneficiaries, even as he sees the scheme creating jobs and wealth for Nigerians.
“This Council is one of the major organs through which the government ensures the development of this country.”
Namadi Sambo directed relevant government agencies, particularly the CBN and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to immediately commence sensitization of Nigerians on the availability and accessibility of the Funds.
He also directed that the National Planning Commission should collaborate with the Ministry of Industry, Trade and Investment, Finance, including the Ministry of Women Affairs, the CBN and  SMEDAN among other relevant agencies to prepare a comprehensive disbursement  plan of the funds for effective monitoring and evaluation by the Council. The monitoring and evaluation, he said, would be done on a monthly basis, including also a bi-monthly report on the level of disbursement.
Speaking at the meeting, the Minister of Women Affairs, Hajiya Zainab Maina appealed to women to as a matter of urgency, go to Banks to access the funds.
She said that the fund is being disbursed at low interest rate.
She disclosed that 60 per cent of the fund was specifically set aside for women.
The CBN Governor, Mr. Godwin Emefiele said that the apex bank is committed to the disbursement of the fund across all the economic sectors of the country.
President of the Persons with Disabilities, Mr. Adeboye Abioye, praised President Jonathan for recognizing their importance to economic growth of the country. He commended the government for the two percent of the fund set aside for access by the persons with disabilities. [myad]

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