FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide - Business (2) - Nairaland
Nairaland Forum › Nairaland General › Business › FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide (10608 Views)
| Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by mamatayour(f): 12:00pm On Jan 19, 2017 |
EdegbeLine:who are your mates  ? |
| Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by CuteTj(m): 12:11pm On Jan 19, 2017 |
BOI is all talk and small action!! We all know that encouraging entrepreneurs and funding of business persons is the way to lift Nigeria out of recession but BOI isn't serious about doing that. BOI/YES-P programme that would have reduced the unemployment rate was deliberately made difficult for entrepreneurs with their silly stringent guarantor requirement which was later introduced while they initially only said we only had to drop our certificates as collateral. |
| Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by Curiouscat: 12:18pm On Jan 19, 2017 |
This is no propangada... It is actually working. It has started in Lagos for sometimes now and presently about to kick off in Abuja and the surrounding state. sweetval: |
| Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by Curiouscat: 12:22pm On Jan 19, 2017 |
It is not giving money, rather a loan a no interest rate and flexible refund packages. CaptPlanet: |
| Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by Natty14(m): 12:32pm On Jan 19, 2017 |
nonsensical propaganda. |
| Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by ishaq062(m): 1:18pm On Jan 19, 2017 |
this is very really . i was given the opportunity to enter the data by my former boos @ kaduna state I just finished the compilation some days ago |
| Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by ishaq062(m): 1:18pm On Jan 19, 2017 |
it is very really . i was given the opportunity to enter the data by my former boos @ kaduna state I just finished the compilation some days ago |
| Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by buffalowings: 1:43pm On Jan 19, 2017 |
CaptPlanet: |
| Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by mapet: 1:44pm On Jan 19, 2017 |
CaptPlanet:If money is "invested" in "structures"....the likes of you will cry "people are hungry"....... Now money is invested in petty traders' businesses to help grow their earning potential, you complain.........hope say if God blesses you, you will not complain.......... 1 Like |
| Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by mapet: 2:14pm On Jan 19, 2017 |
vicade:It is unfortunate that in your anger, I see a lot of ignorance and no commitment to revert it. Let me address some of them briefly 1. ....mainly focus on Education,Security,Health and Food Security.Education - Empower Teach, School Feeding programme, Security - Decimation of Boko-Haram, Replenishment of Armory, Partnerships of States with private Sector on Security (LSSTF, Osun, Rivers, Kano, Ogun, Imo etc) Food Security - Renewed Drive in Rice Revolution - Rice plantations in Northern and Eastern States, Tomato strategy currently being championed by VP, Cocoa export launch etc These are work in progress and results will not come in a jiffy. The challenge I see with the likes of you is that you want instant gratification and not willing to go the distance. It is better we put the system that will make the result sustainable rather then quick fixes that falls by the way side 2. My poeple dont be shocked if by the end of the year they tell you GDP has improved and IMF Declares the recession over yet you are spending even more money on Cooking Gas,Indomie,Pure water, Gala and the likes. If the price of indomie and gas doesnt go back to the price it was prior to recession or my earnings dont improve to curb the inflation, then how can man survive ?At the expense of trying to rationalise the sense in the above, I ask how do you draw nexus between improved GDP yet prices of local commodities goes south? If our ability to produce locally improve radically, definitely prices will normalise and will come down. Or how do you expect the price of stapple food to come down when we continue to import many of these food items, thus putting constant strain on the Dollar? 3. As for we youths, These old guard cant help us. If you are young start processing Canada and relocate. If you can, give birth to your children in the USA so they can get citizenship. Nigeria is a dead country. Even if you have money your life is not secure which is sad because the first mandate of Government is security of life and property.You are at liberty to process immigration to Canada or any other place........but think of it, if some people get to fix the country, will you be deserving of a revamped Nigeria? 4. If you ask Fashola how many MW is needed for nigeria to be an industrial nation i am sure he wont know. Even power wont solve our problem. There is light in America, yet so many stuff are made in mexico and even iphone is assembled in China not america. Its just sad. All sectors in this administration is failing. I have great pity for the youths and the next generation.Now you just made statements that gave you away as totally ignorant. Before Fashola became minister of Power, the estimated power demand for the country had been calculated. Lagos state and Enugu state had done Energy audit as at 2014........ But while you're at it, let me ask you.....since you say there is light in America, do you know what (how long, what quantum of investment? complexity of the commercials?) it takes to put light like in America? Nigeria's power demand is in excess of 100GW, the grid capacity today is 7.5GW, We do not have a single plant that can generate say 5wg...... So let's say bar pipeline be blown up in ND, our current generating capacity is around 6gw. to get up to half of our demand is simply 10yrs away in my estimates. So the question is are you ready to accept a reality of this nature or you want to remain in ignorance and continue to wail? |
| Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by EdegbeLine: 2:39pm On Jan 19, 2017 |
mamatayour:Such a silly question! |
| Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by galaxy2020(m): 3:00pm On Jan 19, 2017 |
24wks, that's about 6 months. what farming business can you start and make enough profit to enable you return the said amount loaned to you? 1 Like |
| Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by CaptPlanet(m): 3:26pm On Jan 19, 2017 |
mapet:The country is in recession and there's no remedy in sight and you think handing money down non interest loans to petty traders will change that? Do you think that will put food on the tables of hungry Nigerians? How many petty traders are you gonna give loans to? The problem with "ppl like you" is that you dont see beyond your nose and party affiliation. Free yourself from such thought. |
| Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by mamatayour(f): 4:03pm On Jan 19, 2017 |
EdegbeLine:now I know your head is paining u cos I don't know what your problem is. If you're pained with my comment goan take pcm |
| Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by EdegbeLine: 5:00pm On Jan 19, 2017 |
mamatayour:If I reply you the best way that fits you, you will start forming the victim card. Go home and insult your impotent and jobless husband, I don't have your fvcking time. And if you were truly born by your mother to this earth, I dare you to reply me with an insult and see how I will molest your life here on Nairaland.  |
| Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by LastProphet: 5:33pm On Jan 19, 2017 |
Lies! all lies! few days to disbursement they will be asked to bring a guarantor with N500m in their account or that was a minister in the last administration. useless BOI |
| Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by mamatayour(f): 6:07pm On Jan 19, 2017 |
EdegbeLine:it's seriously amazing how u leave your own issues of life and get pained with my comment on Nairaland. You don't just quote anybody anyhow because you're also entitled to your own opinion. |
| Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by plamonee: 6:31pm On Jan 19, 2017 |
This is policy may not work. Reasons: we need investment in production, manufacturing and other real sector categories. Investment in trading, distribution and services When general economic demand is low will lead to loan loses. Emphasizes should be placed on stimulating demand especially demand for made in Nigeria goods and services. I see the decision to lend to existing business for expansion purposes as commendable so as to reduce risk of losses. Business expansion and growth is usually inwardly engineered for sustainability purposes.Government should not be engaged in this kind business. Leave it for the micro finance bank and other financial institutions. Government should focus on infrastructure, initial capital investment required for various extractive minerals for export purposes. Construction of atleast one more refinery that has the capacity to refine aviation fuel and others. This petty way of sharing money is not sustainable and should be discontinued. Above all it may encourage inflation. |
| Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by Nobody: 6:41pm On Jan 19, 2017 |
Good initiative but stupid way of implementation |
| Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by mapet: 9:33pm On Jan 19, 2017 |
CaptPlanet:Free myself from "such" tots and reason like you? Thanks but no thanks...... I can be that pedestrian.......... 1. "handing down" non interest loans to petty traders will increase their business volumes, they will be able to buy more and sell more thus increase their margins. Which will translate into more purchasing power for households 2. How many petty traders are you going to give? Any is better than none. But beyond your limited comprehension of the strategy, if you've heard of the term "financial inclusion", then you would have understood it better in terms of getting more of the unbanked in to the fray, increase in commerce-capacity for the small scale sectors. Much more facilitating better identification, data gathering and integration of petty traders into the value chain of products in circulation. Have you ever wondered how you can enhance the turn around time of goods from the farm to the table in homes, if you neglect the petty traders who are an important medium to getting these products to the end consume. Brazil for example have over 5 million registered category of home-traders (your equivalent of petty traders) who produce, repackage, distribute and/or sell products from their homes, many who do not even have shops but have been recognized as integral part of the economy........... So to put into perspective your not well thought-through question Do you think that will put food on the tables of hungry Nigerians?the answer is absolutely YES |
| Re: FG, BOI To Disburse N140bn To Petty Traders, Artisans Nationwide by mapet: 9:56pm On Jan 19, 2017 |
plamonee:I disagree with you 1. The petty traders are part of the value chain and they are not existing in isolation, hence the need to look into making their sector in enhancing the chain. 2. The government facilitated a season of bumper harvests at the end of 2016, yet based on our current capacity and set up, about 45% of some crops are wasted due to challenges of storage, distribution channels and buying capacity of the so-called petty traders. 3. Let's take Agric sector as an example, are we investing in production? the answer is yes. But even at that we run the risk of not deriving needed value if we increase production and the distribution and sales channels are not addressed 4. I like the fact that you raised the need to stimulate demand, yet I ask, how do you want to achieve this if you don't address peoples' capacity to increase current spending? 5. I also see lots of contradition in your analysis. You applaud stimulating small scale business with loans to yet you want "micro-finance banks" to do so..... First off, govt is not giving the loans directly, it is being handled by a more relevant agency - Bank of Industry. Secondly how do you want such intervention to be effective if they have to get loans from MFBs at high interest rates. What impact will that have on prices? 6. Govts do intervene in the commerce and business so as to keep the economy going. This is pretty standard in most emerging economies like ours 7. You need to understand that govt's role in managing the economy is not a one-size-fits-all. For example, govt has no business building one more refinery. Capital projects of such nature is what should be left to the private sector. Dangote is building the largest single-module refinery in the world and it's likely to come on stream 2018/2019. This refinery alone will accommodate Nigeria's current demand with more to spare, so why should govt waste effort. Govt's role in this context is facilitate the interactions of players in the value-chain. In summary, seeing this as "sharing money" is simply ignorant |
Mohammed Nami: Tax Administrators Should Tax Traders, Artisans, Others • CBN, Banks To Disburse N200bn Single-digit Loans To Creative Industry, Others • Lafarge To Deliberate Terms Of N140bn Right Issue • 2 • 3 • 4
How Much Do I Need To Start A Fish Farm • How To Make ₦500,000 Monthly From Popcorn Business • Businessman, 9 Others Win Big In Diamondxtra Season 11 Monthly Draw