The Ibolo Chamber of Commerce Industry, Mines and Agriculture(ICCIMA) has organized a business development webinar on intervention funds that is suitable for Small and Medium-sized Enterprises.
The webinar which was held on Thursday 17th of March, 2022 via zoom was put in place to provide information that are needed for the growth and development of businesses as well as building capacity of ICCIMA members to access the needed help required for their businesses.
Speaking at the webinar, the resource person, Dr. Musa Olasupo exposed the participants to various channels and opportunities where intervention funds can be accessed to boost small and medium sized businesses.
Dr. Musa, an agricultural economist and development finance expert analyses various faces of intervention embarked upon by Central Bank of Nigeria and explained how ICCIMA members can be beneficiaries.
Speaking on Central Bank’s Intervention funds in agriculture, Manufacturing, MSMEs, Infrastructure and Health, he noted that the CBN had undertaken several finance initiatives by creating Agricultural Credit Guarantee Scheme Fund, Commercial Agriculture Credit Scheme (ACGS), Paddy Aggregation Scheme (PAS), Maize Aggregation Scheme
(MAS), National Food Security Program
(NFSP), The Special FGN Fertilizer Intervention Program, Anchor Borrowers’ Program, Accelerated Agricultural
Development Scheme (AADS), Private Sector-led Accelerated Agricultural Development Scheme (P-AADS), Real Sector Support Facility (RSSF), Differentiated Cash Reserves Requirement (RSSF-DCRR), Non-Oil Export Stimulation Facility (NESF), Export Development Facility (EDF), CBN-BOI Industrial Facility
(CBIF), 100 for 100 PPP, SME Credit Guarantee Scheme (SMECGS), Micro, Small and Medium Enterprises Development Fund (MSMEDF), Youth Entrepreneurship Development Program (YEDP), Textile Sector Intervention Facility (TSIF), Agribusiness/ Small and Medium
Enterprises Investment Scheme
(AGSMEIS), Entrepreneurship Development Centers
(EDCs), National Collateral Registry (NCR), Shared Agent Network Expansion Facility (SANEF), Creative Industry Financing Initiative
(CIFI), Targeted Credit Facility (TCF), Tertiary Institution Entrepreneurship Scheme (TIES), Power and Airline Intervention Facility, Nigerian Electricity Market Stabilization Fund (PAIF), Nigerian Bulk Electricity Trading Payment Assurance Facility (NBET-
PAS), SME Re-structuring and Refinancing Facility (SMERRF), Family Homes Financing Initiative
(FHFI), Intervention Facility for the National Gas Expansion Programme (IFNGEP), Solar Energy Adoption Financing Facility (SEAFF), Mass Metering Programme (MMP), Healthcare Sector
Intervention Facility
(HCIF), Healthcare Research and Development Grant
(HRDG).
He added that the intervention of the Central Bank in those sectors is to increase lending to high impact and employment-elastic sector of the economy, to provide access to affordable credit, to diversify economic base, create jobs and improve microeconomic stability, to boost the capacity of MSMEs in priority sectors If the economy, to encourage export and conserve foreign exchange reserve, to expand output of agriculture, manufacturing and services sectors which ICCIMA members can benefit from.
While the president of ICCIMA, Mr. Paul Olagunju thanked the facilitator for the insight and exclusive interaction that will assist members of the chamber to benefit from intervention funds to finance their business.
He added that the ICCIMA is working to make Ibolo land a model of prosperous community in Africa by providing real time information to members to key into various government policies that can enhance their businesses.
“We have carefully chosen the theme” Intervention Funds Suitable for SME’s” to provide information to our budding SME’s in the various initiatives that is available to SME’s at the CBN and how they can be assessed,” he added. Continue Reading
