Merit Ibe

The Nigerian Association of Small Scale Industrialists (NASSI) has urged Micro Small and Medium Enterprises (MSMEs) to register with trade groups to get access to funds to grow their businesses.

Immediate past Chairman of NASSI, Segun Kuti-George, explained that financial institutions are only open to fund credible trade groups rather than lending to individuals. He stated this at a press briefing to herald the 4th NASSI MSME Trade fair scheduled to hold on the 27th of November 27 to December 1, 2020 at Adeyemi Nero Hall, Alausa, Ikeja.

 “We are encouraging many members as possible to form groups. Funding is accessed much more easier when there is a group and there is a leader. There are grants and loans coming out for different groups and they are at very low interest rates.” He said the N75 billion MSME Survival Fund is laudable, but is largely inadequate to meet the needs of over 200 million population in the country.

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He however, called on the Federal Government to encourage local producers by creating an enabling environment for the business community, saying that this is the only way Nigerian goods would compete if the nation’s border opens up for the African Continental Free Trade Agreement (AFCFTA).

For her part,  Lagos Chairman of the Association, Gertrude Akhimien,  noted that the fair was an opportunity for SMEs to showcase their products which have been stored  in warehouses as a result  of disruption  of the COVID-19 lockdown. She urged  members of the public to come around and shop for made in Nigeria products for the Christmas and stock up for the season.

She noted that the association has been assisting businesses that were destroyed during the #Endsars protest and affected by the COVID- 19, saying that it has secured the promises of the Lagos State Employment Trust Fund to compensate businesses.