Manufacturers Urge CBN To Raise Special Window Allocation To SMEs To $100,000

source: http://www.eyesoflagos.com/2017/04/manufacturers-urge-cbn-to-raise-special.html

Adegbite told the News Agency of Nigeria (NAN) on Wednesday in Ota, Ogun, that such a decision would effective help the Small and Medium Enterprises ( SMEs) to import raw materials and boost the economy.

The CBN, through its Acting Director, Corporate Communication Department, Mr Isaac Okorafor, on Monday in Abuja, announced that the apex bank had opened a special window of $20,000 quarterly for SMEs to enable them to import eligible finished and semi-finished items into the country.

The bank also said that its special intervention became necessary after finding out many SMEs were being crowded out of the foreign exchange market (Forex).

According to Adegbite, the new special window by the CBN is not sufficient for the SMEs to import eligible finished and semi-finished items into the country.

“The new special windows just introduced for the SMEs by the apex bank was too nominal and small for them to import goods into the country,” he said.

The chairman said that an upward review of the intervention by the CBN would stimulate activities of SMEs that would further generate employment opportunities.

Adegbite also emphasised the need for the CBN to open another special window for manufacturers to enable them to operate optimally since the $60,000 incentive had been discontinued.

“The SMEs and manufacturers form the bedrock of any nation because they play vital roles in economic development as well as providing jobs for the people.” (NAN)

No be only window...nah gate them go open for una. Thieves wey jump through windows scatter our economy by hoarding the dollars. The gate of hell is open for you.

space booked ......nothing to say right now

Booked

I'm here to ask you to CHECK MY SIGNATURE!

CBN no dae hear word!!!!..

Gradually dollarization of the economy will resurrect again and round tripping will be reenergized.

It takes more than all these windows to solve our SME problems.

$20,000per quarter! What is that supposed to do?

In any case, I am against this new proposition to grant each SME $100,000 to import items. I am a member of NASME myself, but I can tell you that if such money is provided, no one will think of local alternatives to imported raw materials.

D chairman MAN has a point. $100k quarterly will go a long way 4 SMEs.

stagger:
$20,000per quarter! What is that supposed to do?

In any case, I am against this new proposition to grant each SME $100,000 to import items. I am a member of NASME myself, but I can tell you that if such money is provided, no one will think of local alternatives to imported raw materials.

issues as it concerns local alternatives is a story for another day,you have to talk about mining,transportation,tax. Do you know that conveying goods from east to lagos is more expensive than imports in some cases? We need alternatives,if I see the local products are cheaper and of the same quality of course i'll go for it. But it isn't usually the case. Maybe apart from raw materials such as limestone

Behaving like oliver Twist

Na So. Una eyes go soon open when it finishes.