The Federal Government designed the N220bn Small and
Medium Enterprises Development Fund to tackle the
dearth of financial resources available to small
businesses and unleash their potential to create jobs
and reduce the incidence of poverty.
President Goodluck Jonathan made this declaration at
the opening of the National Summit on Raw Materials-
based SME Clusters in Nigeria hosted by the Raw
Materials Research and Development Council in Abuja
on Thursday.
Jonathan, who was represented at the event by the
Minister of Science and Technology, Dr. Abdu Bulama,
said focusing on the transformation of raw materials in
each locality of the country was necessary in order to
diversify the economy in view of falling prices of crude
oil in the international market.
He said, “In spite of the recognition of MSMEs globally
as the critical engines of economic growth due to their
potential to create jobs, boost production, generate
income and reduce poverty; in Nigeria, they do not have
adequate financing needed to play this pivotal role.
“My administration’s decision to create the N220bn
MSME Fund as designed by the Central Bank of Nigeria
is, therefore, meant to address this challenge, support
entrepreneurs and unlock the potential of the MSMEs for
job creation and poverty reduction.
“This is also aimed at ensuring that productive sectors
of the economy continue to attract more finance
necessary for employment creation and diversification of
the country’s economic base.”
The President said the fund would enhance the capacity
to develop the grass roots through provision of financial
assistance to the active poor, who are majorly small
business owners, and by so doing, expand their
businesses and improve their livelihood.
He asked the management of the fund to collaborate
with the Ministry of Science and Technology to ensure
the successful implementation of the ward-based cluster
programme.
Jonathan added that the nation’s ability to transform
locally available raw materials into value-added
products, which were acceptable and globally
competitive, was crucial if Nigeria must be self-reliant.
“It is, therefore, a vital component of the country’s
overall strategy for achieving global competitiveness,
reduction of post-harvest losses and ensuring food
security,” he added.
The President, Manufacturers Association of Nigeria, Dr.
Frank Jacobs, put the local raw materials utilisation
capacity of the country at 52 per cent as of 2013.

Source: http://www.punchng.com/business/business-economy/we-created-n220bn-fund-to-help-msmes-jonathan/

GEJ should know that he has our votes and stop the lies. We 'll vote him no matter his antecedents cos he's preferred over an uneducated fellow.

'Maybe' he created the funds only on paper because the money didn't go out of the paper, never implemented or was hijacked by the cabals.

He has our votes but he should please stop lying to us please.

GEJ till 2019
GEJ till GMB writes his WASSCE and passes it
GEJ continuity

WHEN THE ALMIGHTY BOSS OF THE ENTIRE UNIVERSE AND GOD, USA, SAID
NIGERIA WILL BREAK UP 2015 YOU THOUGHT IT WAS A JOKE? IF JONATHAN
WINS THIS ELECTION BUHARI MASSIVE SUPPORTERS WILL CREATE THE
BIGGEST VIOLENCE IN NIGERIAN HISTORY, ONLY SUPPARSED BY THE CIVIL
WAR. FROM THENCE, THERE WILL OCCUR AN UNPRECEDENTED REVOLUTION
IN THE COUNTRY. THE UNITED STATES WILL THEN STEP IN BY THE
SNAPPY ORDER OF CONGRESS... THE BEGINNING OF THE END.


WHAT I SAID TO ONE I SAID TO ALL... WATCH!
DO NOT LET GEJ IN AGAIN!

GEJ is a Fraud, Liar and Failure

OmoUSH:
WHEN THE ALMIGHTY BOSS OF THE ENTIRE UNIVERSE AND GOD, USA, SAID
NIGERIA WILL BREAK UP 2015 YOU THOUGHT IT WAS A JOKE? IF JONATHAN
WINS THIS ELECTION BUHARI MASSIVE SUPPORTERS WILL CREATE THE
BIGGEST VIOLENCE IN NIGERIAN HISTORY, ONLY SUPPARSED BY THE CIVIL
WAR. FROM THENCE, THERE WILL OCCUR AN UNPRECEDENTED REVOLUTION
IN THE COUNTRY. THE UNITED STATES WILL THEN STEP IN BY THE
SNAPPY ORDER OF CONGRESS... THE BEGINNING OF THE END.


WHAT I SAID TO ONE I SAID TO ALL... WATCH!
DO NOT LET GEJ IN AGAIN!

High fever is really a wicked ailment. Satan won't escape God's judgement for what he's doing to people. Sorry bros I feel your pain

GEJ is synonymous with lies.

Are you talking about the fund that has been looted or that will be looted?

Jonathan is surely coming back again. nice one.

This man is an unrepentant lair.
What happened to the N200 Billion donated to the Entertainment industry?

barcanista:
GEJ is a Fraud, Liar and Failure

so buhari that went to forge result is not a fraud? someone that lied against the army is not a liar again? someone who has not won any election before is not a failure? na wao.

OmoUSH:
WHEN THE ALMIGHTY BOSS OF THE ENTIRE UNIVERSE AND GOD, USA, SAID
NIGERIA WILL BREAK UP 2015 YOU THOUGHT IT WAS A JOKE? IF JONATHAN
WINS THIS ELECTION BUHARI MASSIVE SUPPORTERS WILL CREATE THE
BIGGEST VIOLENCE IN NIGERIAN HISTORY, ONLY SUPPARSED BY THE CIVIL
WAR. FROM THENCE, THERE WILL OCCUR AN UNPRECEDENTED REVOLUTION
IN THE COUNTRY. THE UNITED STATES WILL THEN STEP IN BY THE
SNAPPY ORDER OF CONGRESS... THE BEGINNING OF THE END.


WHAT I SAID TO ONE I SAID TO ALL... WATCH!
DO NOT LET GEJ IN AGAIN!

Abeg comot 4 road b4 I use buhari syndrome swear 4 you and your generation .

Bunch of illiterates

What happened to the Aviation intervention fund of N300billion, N200billion small and medium guarantee scheme, N75billion grooming enterprise leaders business intervention fund, N100billion textile industry bailout, N200billion for indigenous pharmaceutical companies and many other intervention funds? They have all been siphoned away. This is another food for the boys

clevvermind:
so buhari that went to forge result is not a fraud? someone that lied against the army is not a liar again? someone who has not won any election before is not a failure? na wao.

He did not forge any results and did not lie against the army. The courts are there if you have any evidence that can prove he committed any crime. The onus is on you to provide evidence of his wrongdoing, until you can do that you are a liar.