• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Thursday, August 28, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

MAN lauds credit facility to re-energise MSME, real sector

MAN

The Matters Press by The Matters Press
August 1, 2023
Reading Time: 2 mins read
0
MAN concerns over CBN’s e-invoicing guidelines, calls for 90 days extension

Lagos, Aug. 1, 2023: The Manufacturers Association of Nigeria (MAN) has commended President Bola Tinubu for the proposed credit interventions to revitalise the manufacturing sector and Micro, Small and Medium Enterprises (MSME) and mitigate the impact of fuel subsidy removal.

RELATED POSTS

‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals

‎Group dismisses Obasanjo’s labelling of Tinubu’s administration as inefficient

Tinubu succeeding where Obasanjo failed woefully, says TMSG

Director-General, MAN, Mr Segun Ajayi-Kadir, said on Monday night in Lagos in reaction to the President’s broadcast.

President Tinubu unveiled plans to provide a N75 billion credit facility between July 2023 and March 2024 to 75 enterprises to strengthen the manufacturing sector.
He added that his administration would energise MSMEs and the informal sector with N125 billion among other schemes to engender sustainable economic growth.

Ajayi-Kadir noted that the assurances in the President’s broadcast represented part of the follow up measures manufacturers had appealed for and was more beneficial than palliatives that would only give nominal relief.

He lauded the Federal Government’s move to work in a coordinated manner with local and state governments to deliver interventions that would cushion the effect of the hardship across the socio-economic brackets.

The MAN DG said the recently signed four executive orders had set the stage for the much sought-after relief for the manufacturing sector.

According to him, it had become possible to return to their business projections and to look toward a possible profitable production in the affected sectors.

Ajayi-Kadir said the promise that 75 manufacturing enterprises would access N1billion credit at 9 per cent interest rate per annum and working capital was commendable.

He noted that the allocation of N125 billion to energise the MSME segment would give fillip to their businesses and help overcome the paucity of funds occasioned by low capacity utilisation and unprecedented low sales in recent times.

“It is a good start to begin to address the dearth of loanable funds in the face of rising lending rate occasioned by the continued increase in the MPR by the Central Bank of Nigeria (CBN).

“It is however very important and critical that the vehicles for the delivery of these loans should be carefully selected and the implementation diligently monitored.

“The Bank of Industry (BOI) has shown excellent performance as an appropriate transaction structure for such facilities.

It is equally important to ensure that the promised 3000 units of 20-seater buses be procured from indigenous automobile Industries.

“This is a golden opportunity for the Federal Government to demonstrate unfailing commitment to the implementation of the subsisting Executive Order 003, which prioritises the patronage of made in Nigeria products,” he said.

Tags: MANMSME
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Nigeria regains top crude oil production spot in Africa
Energy

‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals

August 28, 2025
Who is lying, Obasanjo or NAN?
News

‎Group dismisses Obasanjo’s labelling of Tinubu’s administration as inefficient

August 28, 2025
Obasanjo campaigns for AfCFTA
News

Tinubu succeeding where Obasanjo failed woefully, says TMSG

August 28, 2025
Tinubu explains mission as he marks second year in office
Economy/Technology

‎Tinubu in fresh ideas to grassroots-development using 8,809 wards initiative – TMSG ‎

August 9, 2025
Obi, PDP candidate advises Buhari to increase tempo
Economy/Technology

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

August 7, 2025
Importers face delays, higher costs on Red Sea woes
Economy/Technology

National Single Window initiative, a major step for efficient cross-border trade – TMSG

August 4, 2025
Next Post
NIMASA moves against illegal fishing in Nigerian waters

NIMASA, Total Energies Nigeria rescue distressed vessel

“Naira-4-Dollar” getting results

Naira appreciates, exchanges at N756.94

Recommended Stories

Job loss fear confirmed as more AI tools launch

Mbah promises to 40,000 youths on digital, entrepreneurial skills annually

November 19, 2023
South Africa defeats media lies of embassy bombing

South Africa defeats media lies of embassy bombing

September 8, 2019
3,000 manufacturers to attend global fair on industrial solution in Lagos

Nigeria releases N100bn Consumer Credit Fund to support manufacturers

March 15, 2024

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • ‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals
  • ‎Group dismisses Obasanjo’s labelling of Tinubu’s administration as inefficient
  • Tinubu succeeding where Obasanjo failed woefully, says TMSG

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us