7 December 2017

Nigeria: Small-Scale Industrialists Launch N100 Million Micro Credit Scheme

The National Association of Small Scale Industrialists (NASSI) has launched a N100 million credit scheme for its members in Abuja.

At the launch held in Abuja yesterday, the National President of the Association, Engineer Ezekiel Essien, disclosed that 50 beneficiaries in Abuja have received N50,000 each in the pilot scheme that would soon be extended to other parts of the country.

Engineer Essien, who was represented by the Acting Director General of the Association/National Deputy President of the Association, Solomon Daniel, said the scheme was meant to alleviate the challenges small-scale industrialists face when the seek credit.

He lamented that access to credit remain a huge challenge even as interest rates and collateral requirements for such credits made it almost impossible for them to access credit even when available.

The chairman of the board of the association, who was also a former Minister of Agriculture, Dr. Sayyadi Abba Ruma, unveiled NASSI Microcredit Limited and NASSI Cooperative Thrift and Credit Union Limited at the occasion.

Dr. Ruma charged the industrialists to prioritise business development support ahead of capital and credit as some businesses stagnate over the years due to lack of business support.

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