NACCIMA Calls For Early Disbursement,   Easy Access  of SMEs To Financial Stimulus Packages

From BLESSING OKEZIE, Lagos

The Nigerian Association of Chambers of Commerce, Industry Mines and Agriculture (NACCIMA), has called on the authorities in charge of administering financial stimulus packages announced by President Muhammadu Buhari’s during Nationwide address on Coronavirus lockdown recently  to allow  easier access and early disbursement of the funds to the respective Applicants.

The Director General NACCIMA, Ayo Olukanni, who made this call in his reaction to the president’s nationwide broadcast on COVID-19 lockdown, said the authorities should ease the stress to be undergone by applicants by ensuring that once respective applicants can prove their credibility and track record, they will be allowed to access the package.

“In this regard, we call on Chambers members to take advantage of the opportunities under the National Collateral Registry (NCR) to register their moveable assets to enable prospective applicants avail themselves of the opportunities available under and through the NCR at this period.

“We also recommend sector specific stimulus packages by relevant institutions as government starts a review of  the budget in the face of the free fall of oil prices and loss of revenue”.

He said the stimulus packages also deserve the attention of the Economic Sustainability Committee chaired by the Vice President Professor Yemi Osibanjo  especially as the Committee ruminates on the Post Covid-19 era.

The NACCIMA DG, commended President Buhari on the speech adding that he has struck the right balance.

“The need to ease the lockdowns in some state to prevent total destruction of our  businesses and our economy  and the very important need to continue adherence to various protocols that will help to curb the spread of the disease such as social distancing, restriction on large gathering and wide use of face mask hence forth”

He however cautioned that as the concern state move into gradual opening of businesses, it should be done in a careful manner to prevent a resurgence.

He also commended Buhari on his promise to give special attention and support some states such as Kano that appears to be facing serious challenge saying it is desirable because no state should and can be left behind in our determined efforts to rid our country of the scourge of the Coronavirus.

“These are indeed right steps in the right direction and we welcome themall. Of significance in the address is also directives by Mr President  to the CBN and other financial institutions to make plan and provision for financial stimulus packages for SMEs in view of their critical role. Chambers members across the countries welcome these stimulus packages some of which have been put together especially by the  CBN and others which will eventually come up”, he said.

He also commended the efforts of bodies like the PTF on Covid-19, the  NCDC and health workers who are in the forefront of the fight against Covid 19 and prayed for an end to the Pandemic soon.