20th August, 2014
“So, we must also get there and even go beyond,” Jonathan said.
He said a vibrant MSME sub-sector was indispensable for achieving a sustainable transformation of the Nigerian economy.
He noted that as Africa’s largest economy, with excellent prospects of becoming one of the world’s 20 largest economies by 2020, the challenges confronting the country’s MSMEs must be addressed frontally.
“The challenges called for more concrete and concerted measures to enhance and expand the activities of MSMEs in our country.
“The enormity of the task ahead demands immediate and dedicated action. That is why I am kick-starting today (Tuesday) the disbursement of the N220 billion MSMEs Development Fund.
“The fund will be received by participating financial institutions and state governments for onward lending to MSMEs across the country,” he said.
He described the conference as apt and appropriate in view of its focus on ways to resolve the problem of access to and cost of finance to MSMEs in Nigeria.
He said the Federal Government was investing heavily on critical infrastructure such as electricity, roads, among others, to promote job creation and inclusive growth.