Business
IDC Seeks Improved Funding For SMEs
The Industrial Development Centre, (IDC), Rivers State, has charged the financial institutions in Nigeria to provide funding for small and medium business owners.
Managing Director of the centre, Mrs Patience Sudo, made the call in a chat with The Tide, in Port Harcourt, Wednesday.
Sudo noted that financial institutions do not readily give loans to SMEs, because of fear that small and medium business owners do not pay back loans given to them.
While admitting that some financial houses had in the past released some funding to small business owners, the IDC boss observed that it was hardly sufficient to keep the businesses afloat or help them to expand. He, therefore, appealed that more could be done, ”especially now that there are no jobs”.
Sudo also noted that the financial policies of the nation were not beneficial to small and medium business operators, adding that finance was the panacea for growth in business.
She explained that the financial institutions usually demanded collaterals that are usually out of reach of the SME operators.
She said small businesses fail no sooner than their take off due to harsh economic situation in the country.
Sudo, however noted that financial mismanagement also contributed to the failure of small business ventures and charged operators of small business to build their capacities on financial management.
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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).
