Business
Don Blames Lack Of Dev On Poor Environment
A lecturer at Ahmadu Bello University, Zaria, Prof. Emmanuel Oladapo, has said that poor environmental performance is hindering sustainable development in Nigeria Oladapo noted in an interview with our correspondent in Abuja on Saturday that a lot of unchecked environmental activities had polluted the country’s environment.
“A lot of activities are going on in our environment which have polluted the air, land and water. These challenges need government attention to reduce the effect on the environment.
“Gas flaring in the Niger Delta needs to be tackled with all seriousness.
“Statistics has shown that 69.1 per cent of Nigerians are poor, indicating that something is wrong with our development. We have not been consistent in promoting environmental sustainability.”
Oladapo, who is also a climatology and environmentalist, urged the Federal Government to map out strategies to address environmental issues in a coherent manner as environment holds the key to sustainability.
However, he noted that a strong political will and accountability would assist in promoting socio-economic, environmental, educational issues, among others.
He noted that the forthcoming Rio+20 in Brazil slated for June would focus on green economy in the context of sustainable development, poverty eradication, and institutional framework for sustainable development.
He expressed the need for Nigeria to strive for green and sustainable economic development to achieve the goals of Vision 20:20:20 and the MDGs by 2015.
Oladapo also expressed the need for all stakeholders, including MDAs, NGOs, the media, CBOs and the academia, to come up with suggestions to achieve the goals.
“All stakeholders have to come up with different suggestions in areas they felt government should address.
“And all these should be put together in a summary as a document for presentation at the Rio +20 conference.
“Areas that are expected to be captured in the document should include the achievement, opportunity, challenges, next line of action, among others.
“All these suggestions should be included in the draft for sustainable development we are developing for the country.”
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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