NACCIMA Council Calls For Accelerated Disbursement Of Funds Under The Economic Sustainability Plan
By Our Correspondent
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, NACCIMA Council has called on Government for immediate and accelerated disbursement of funds under the Economic Sustainability Plan ESP.
The Council made the call in one of its resolutions, describing it as an urgent, strategic option to consolidate the recent modest gain reflected in the 0.11 per cent GDP growth in the last quarter of 2020 which indicates that the country is out of recession.
NACCIMA was however of the view that the GDP growth was too little and not significant in the face of high inflation, unemployment, increasing Foreign and domestic debt.
It said steps should therefore be taken to consolidate the gain and upscale growth and this can be done through immediate disbursement of funds under the various stimulus packages, adding that this would increase the momentum of economic activities especially through the SMEs who are the target of the stimulus packages including the N50billion SME survival funds and other funds specifically allocated to support Women owned businesses.
NACCIMA said it also welcomed the plans by Nigeria Export Promotion Council (NEPC) to commence disbursement of funds under the Export Expansion Facility including the Funds specifically earmarked to support Exporters and increase contributions of non-oil Exports to GDP.
Further NACCIMA advised that consideration should be given to involvement of Chambers across the country in the disbursement of the Export Development Funds in particular.
It also stressed the need for effective security across the country to ensure safety of lives and properties and ensure appropriate environment for businesses to thrive.
The National President of NACCIMA, Hajiya Saratu Iya Aliyu presided over the Council meeting which was attended by representatives of the Hon Minister of Industry Trade and Investment Otunba Niyi Adebayo, the FCT Minister Alh Muhammad Bello, Executive Director Nigeria Export Promotion Council, Segun Awolowo.
Also present was the Managing Director the Nigeria Export Processing Zones Authourity, Prof Soji Adesugba. Members of NACCIMA.
