BEVERLY HILLS, November 27, (THEWILL) – Gombe State Governor, Ibrahim Dankwambo, Thursday, made a case for the growth of Small and Medium Enterprises (SMEs) in the country, saying the Federal Government has the responsibility of ensuring their sustainability.
Maintaining that this has become necessary because the growth of the economy depends majorly on the SMEs, Dankwambo, who spoke at a two-day workshop for staff of the state Microfinance Banks, said SMEs in the country need to be sustained at whatever cost, because of their overriding importance to the economy.
The workshop, aimed at boosting the capacity of the management and staff of Microfinance banks in the state was organised by the National Deposit Insurance Corporation (NDIC) in collaboration with the state government.
The governor, who commended NDIC for spearheading the workshop, disclosed that the state government has established 11 microfinance banks, with one in each of the 11 Local Government Areas of the state.
According to Dankwambo, a Microfinance Development Agency is also in the pipeline to ensure the sustainability of all Micro finance banks in the state.
His words: “We are committed to strengthening the existing microfinance institutions in the state, with a view to stimulate industrial growth, provide job opportunities, to the unemployed youths and enable them contribute their quota to the development of our state and the nation in general.
“ In order to achieve this laudable objective, the state government will continue to partner with stakeholders at all levels, to promote the economic activities of the people of the state, especially in the field of agriculture and agro allied enterprises.”
Disclosing that over N500 million had been spent on the establishment of the Microfinance banks in the state, Dankwambo said the state would soon access the funds made available by the Central Bank of Nigeria (CBN) for enhancing the activities of such banks.
“In the next few days, we will be accessing the N220 billion set up by the Central Bank of Nigeria because already, we have met up with all the conditions and conditionality. Our hope is that our staff working in the Microfinance banks will become more dedicated and show more commitment in the discharge of their duties,” he said.
Earlier in his remarks, NDIC Managing Director, Alhaji Umaru Ibrahim, promised that the corporation would explore all avenues of increasing the number and activities of microfinance banks in the North-East,
saying Micro Finance banks can positively impact the society, if they follow laid down guidelines and procedures.
“Micro finance banks in Nigeria can create significant impact if only they adhere to recommended corporate governance practices based on effective and sustainable risk management practices instituted by the regulatory authorities,” the governor said, assuring that 60 per cent of Nigerian women would be empowered through the microfinance banks to address poverty-related problems in the country.
