Business
World Blank Blames SMEs’ Woes On Inadequate Funds
The World Bank
has identified inadequate access to finance as the major problem facing the growth of Small and Medium Scale Enterprises (SMEs) in Nigeria.
The representative of World Bank, Mr Michael Wong, who made this known in a report on the general meeting of finance stakeholders organised by the Nigerian Association of Small and Medium Enterprises in Lagos, last week, said that the industry could aid in the development of the economy if financially supported.
He explained the need for government to provide a platform that could aid easy access to fund by this sector, adding that the growth of the industry depend on the availability of fund.
Wong said that World Bank has concluded plans to launch another scheme to support SMEs in Nigeria.
The World Bank representative expressed dissatisfaction over the poor performance of the sector in the country which he attributed to inadequate funding.
He also reiterated that his organization has reached an agreement to inject life into the sector to position it for economic growth.
Other institutions at the meeting included the International Finance Corporation, Nigerian Stock Exchange, First Bank Nigeria Plc, Heritage Bank, Bank of Agriculture, CBN and other financial stakeholders.
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FG Fixes Uniform Prices for Housing Units Nationwide, Approves N12.5m For 3-bedroom Bungalow ……..Says Move To Enhance Affordability, Ensures Fairness
“The approved selling prices are as follows: One-bedroom semi-detached bungalow, N8.5 million; two-bedroom semi-detached bungalow: N11.5 million and three-bedroom semi-detached bungalow, N12.5 million,” the statement added.
Minister of Housing and Urban Development, Ahmed Dangiwa, stated that priority in the allocation of the housing units would be given to low and middle-income earners, civil servants at all levels of government, employees in the organised private sector with verifiable sources of income, and Nigerians in the Diaspora who wish to own homes in the country.
The Permanent Secretary in the ministry, Dr. Shuaib Belgore, explained that several payment options have been provided to make the houses affordable and flexible. These include outright (full) payment, mortgage, rent-to-own scheme, and installment payment plans.
The ministry further announced that the sale of the completed housing units across the northern and southern regions will soon commence.
“Applications can be made through the Renewed Hope Housing online portal at www.renewedhopehomes.fmhud.
The ministry, however, clarified that the approved prices apply strictly to the Renewed Hope Housing Estates which are funded through the ministry’s budgetary allocation, as against the Renewed Hope Cities in Karsana Abuja, Janguza Kano, Ibeju Lekki, Lagos which are being funded through a Public Private Partnership (PPP).
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