Charles Okonji
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has called on the federal government to adopt sector-specific stimulus packages by relevant institutions as the government starts a review of the budget in the face of the free fall of oil prices and loss of revenue.
The Director-General of NACCIMA, Amb Ayo Olukanni who disclosed this to the press noted that the stimulus packages also deserve the attention of the Economic Sustainability Committee which the VP is chairing, as the committee ruminates of the post-COVID-19 era.
The DG said, “We also want to call on respective authorities administering these financial stimulus packages to allow easier access and early disbursement of the funds once the applicants can prove their own credibility and track record.
“In this regard we call on Chambers members to take advantage of the opportunities under the National Collateral Registry (NCR) to register their moveable assets to enable prospective applicants avail themselves of the opportunities available under and through the NCR at this period.”
Commending the federal government over its actions on lockdown, Olukanni said the need to ease the lockdowns in some states to prevent total destruction of businesses and the Nigerian economy was commendable.
“Of significance in the address is also directives by Mr President to the CBN and other financial institutions to make plans and provision for financial stimulus packages for SMEs in view of their critical role,” he said, adding, “Chambers members across the countries welcome these stimulus packages, some of which have been put together especially by the CBN and others which will eventually come up.”
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