Nigeria Needs Enabling Policies That Enhances Funding for MSMEs at a Cheaper Rate - Yinka Ogunnubi
Africa's largest economy Nigeria must focus on enabling policies that enhances funding for MSMEs at a Cheaper rate, considering the perennial challenges of access to funds that has led to several interventions from the government, from Federal to State level.
Mr Adeyinka Ogunnubi the Group Treasury Manager, CFAO made this point as a guest on the "Economy and Politics" show which discussed "Rethinking Sustainable Models for MSME Interventions In Nigeria".
According to him there is need to formalize the MSMEs in the country to access the benefits of the provisions from the recently signed CAMA ACT 2020, Finance ACT 2019 and the FCCPC provisions.
He called for a long-term approach in enterprise development and interventions, which should leverage the 'Public-Private-Partnership' model like what the Lagos State Government is doing through the "Lagos State Employment Trust Fund".