Business
Director Solicits Collective Efforts On Rural Infrastructure
Director, in the Federal Ministry of Agriculture and Rural Development, Mr Akeju Mudasiru, has urged the federal, state and local governments to invest in the construction of rural roads.
Mudasiru, made the call in an interview with newsmen in Abuja, recently.
He stressed that the construction of roads and the provision of infrastructure for rural dwellers should not be the responsibility of the Federal Government alone, adding that the other tiers of government should be involved in the venture as well.
”Nigerians believe that the Federal Government should fund all the development projects that have to do with rural areas.
”This is not supposed to be so; the provision of infrastructure for rural dwellers should not be the sole responsibility of the Federal Government alone; all the three levels of government should be involved.
”The local government is, however, supposed to play a major role when it comes to rural community development projects,’’ he said.
However, Mudasiru said that his department had executed projects in about 250 rural communities which were selected from the six geopolitical zones of the country.
”Over the years, the people in the rural space have been deprived or neglected, in terms of provision of basic infrastructure.
”The infrastructural requirement to sustain the rural area is not as expensive as what is needed for urban development.
”That is why the government needs to pay critical attention to address the concerns of the rural areas by providing infrastructure that will support and enhance the people’s livelihoods.
”We provide such communities with rural roads to enable them to transport their farm produce to markets.
”Most times, these farmers do not get value for their crops because when they transport their produce to the market and the crops are not properly priced, they find it difficult to take them back home.
”We will provide potable water and set up markets for them to sell their farm produce or construct roads that would link them to urban centres for easy accessibility,’’ he said.
Mudasiru urged the rural communities to initiate efforts to properly maintain the infrastructure which Federal Government had provided for them, adding that the government had invested a lot of resources on them.
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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