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    Tuesday, August 21, 2018

    NECA Applauds CBN On Single-Digit Loan Scheme for Real Sector

    The Nigeria Employers’ Consultative Association (NECA) yesterday commended the Central Bank of Nigeria (CBN) on agreement reached with the Bankers’ Committee, to offer single-digit interest rate loans to operators in the manufacturing and agricultural sectors of the economy.

    Speaking on the development, the Director-General of NECA, Olusegun Oshinowo, applauded the scheme and noted that it would aid in the development of the Real Sector. According to him, “though the scheme was commencing with manufacturing and agricultural sectors, it should also be extended to other sectors of the economy, especially sectors that would create jobs for the teeming unemployed youths in the Country. We believe that the focus is to ensure the growth of the economy, especially now that we are out of recession and have achieved some stability”.
    Director-General of NECA, Olusegun Oshinowo
    Oshinowo explained further that “with transparency, proper structure and implementation, the scheme would enhance the economy’s growth, create more jobs, and serve in the reduction of crimes and youth restiveness. It will also improve the easy of doing business in Nigeria.”

    While commending the efforts by Government, the Association advised Government, and indeed the Central Bank to “ensure that the guidelines and requirements in accessing the loans were not over-reaching. NECA also urged Operators in the Real Sector to take advantage of the scheme”.
    Oshinowo called on the Federal Government to develop and implement more business-friendly initiatives that will further entrench the Private Sector as the engine of national development. This, according to him, will demonstrate Government’s reiterated commitment to improving ease of doing business in the country.
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