SME Operators Seek Specialised Banks For Better Funding Access

BY OLUSHOLA BELLO AND KINGSLEY OKOH, Lagos
Operators in Nigeria’s Micro, Small and Medium Enterprises (MSME) sector have called for the establishment of specialised banks dedicated to serving small businesses, citing persistent disbursement delays and limited access to financing under existing intervention schemes.
This is as the manufacturing sector continues to face mounting pressure, with the soaring cost of bank loans frustrating factory expansion and undermining the country’s industrialisation drive, with industry stakeholders warning that the deepening financing crisis is threatening investment, production and job creation.
With the Central Bank of Nigeria (CBN) maintaining t...