The Nigerian Association of Chamber of Commerce, Industry, Mines and Agriculture has commenced the construction of a N1.5bn centre that will help it to facilitate trade, investment and promotion of the Micro, Small and Medium Enterprise sector of the economy.
The centre, which is expected to be completed in three years’ time, will serve as a platform for the MSMEs to boost their business and enjoy corporate interventions by the government.
The National President, NACCIMA, Dr. Bassey Edem, stated this in Abuja during the unveiling of the roll of honour for members who supported in the foundation stage of the building.
He said that while the association served as a link between the government and the private sector, it had become difficult for enterprises to access the needed funds for business expansion.
Edem stated, “When we began the role of intermediary between the government and the MSMEs, what the government told us was that we were not a bank, they gave us the option of either to float a bank or mediate for the sector through government agencies like the Small and Medium Enterprises Development Agency.
“We did and we recorded change in the policy of SMEDAN. We placed emphasis on the need to reduce collateral; we sit on the board of these MSMEs and educate them on how to make beneficial use of any credit given them.”