Tinubu Promises to Provide Support for Micro and Small Businesses
Nigeria is no doubt endowed with resources – both human and natural. However, the government is yet to provide thriving conditions to maximize these potentials in the country. A lot of businesses find it difficult to thrive because of issues such as a lack of access to affordable financing.
The two-term former Governor of Lagos State, Bola Tinubu in his manifesto released recently has promised to address these concerns by Nigerians if elected for office come 2023. Medium and Small Scale Enterprises (MSMEs) will enjoy greater access to affordable financing under an Asiwaju Bola Ahmed Tinubu Presidency.
As stated in his memorandum, Bola Tinubu says he will Support Micro & Small Businesses. He is going to introduce policies that will help to stimulate growth for the over 40 million micro and small enterprises operating all over Nigeria and for each to employ an average of one additional person, translating to 40 million new jobs per year.
He further adds that he will collaborate with the likes of CBN, microfinance banks, SMEDAN, and the Bank of Industry to establish a special intervention fund and put in a Small Business Loan Guarantee Scheme for micro and small businesses to bridge existing funding gaps.
The APC presidential candidate, Bola Tinubu says his administration is set to promote a national culture of consumer financing and credit system by moving the country away from a cash-and-carry economy to that of a credit-based consumer financing economy. This will stimulate more consumer demand and boost productivity and growth.
Tinubu is determined to boost MSMEs and local production. One of the ways he intends to do this is by providing loan rates as low as three percent. This is unlike current general bank interest rates that often stifle small businesses. It goes without saying that this would make repayment easy while enhancing profit.
The spokesperson for the All Progressives Congress (APC) presidential campaign council, Festus Keyamo while speaking in an interview on Arise News’s Prime Time recently said that “Tinubu will diversify our economy to ramp up revenue and create employment”.
The two-term former governor of Lagos State is also a businessman. He has been active in several businesses over the years in Nigeria. It is only natural that he understands the dilemma faced by small businesses. What better leader to bring into power, than one who really understands the plight of the people?
The APC presidential candidate, Bola Tinubu is also set to employ the same economic blueprint that helped Lagos grow its revenue base exponentially. Bola Tinubu assures that by God’s grace and if given the opportunity to become the president come 2023, will support MSMEs, not only by way of mouth but also by providing cheap sources of funding to MSMEs.”
To download Asiwaju Bola Tinubu manifesto visit https://www.adhang.com/asiwaju-bola-tinubu-manifesto/
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COURTESY: Bunu Sadiq Ibrahim.
