₦airaland Forum

Jaiyeola Andrews in Abuja

President Goodluck Jonathan on Monday officially launched the Development Bank of Nigeria (DBN).

Though Jonathan observed that small and medium enterprises had always been the backbone of the nation’s economy, he however said the sector never had the opportunity of accessing cheap funds for its development.

According to the president, there exists over 17 million Micro, Small and Medium Enterprises (MSMEs) across the country which employ over 32 million people while contributing over 45 per cent to the Gross Domestic Product (GDP).

He stressed that existing developmental institutions in the country included the Bank of Industry (BoI) and other commercial banks which could not satisfy the funding needs of the MSMEs, hence the establishment of the DBN.

The president spoke at the launch held at the Banquet Hall, Presidential Villa.
“Access to long term finance has been a challenge for the MSMEs. Most MSMEs cannot get long term funds from banks and other financial institutions, forcing them to spend on personal savings, friends and family for loans.

“These loans are typically short term and come at a high interest rate, thereby stemming the growth of these businesses,” Jonathan said.

The president, however, seized the opportunity to launch his campaign handbook titled; ‘Jonathan’s Next Four Years,’ encapsulating his visions for the country should he be re-elected.

The Coordinator for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, explained that the establishment of the bank was for a robust finance backing for small and medium enterprises.

According to her, the wholesale developmental institution plans to offer loans to at least 20,000 beneficiaries in the first one year of its operations and is billed to start business in the next nine months.

The Federal Executive Council (FEC) recently approved a multi-donor credits from the International Bank for Reconstruction and Development of the World Bank, Africa Development Bank, Germany and French Development Agency in the sums of $500 million, $450 million, $200 million and $130 million for the establishment of the DBN.

50calibre:
Lol you're right, I'm not on your level, I'm way above your level.

@ the bolded, can you tell me how the Jonathan administration has made funds available for small businesses. I'm really not into phantom claims, neither do I fall for them so Im going to need statistics of how many businesses were funded in 2014, and how.

Look you're not debating with some teenager here, you're debating with someone far above your station in every respect, get that clear. I'm more science inclined but my knowledge/experience of business & basic realities trumps whatever you may have acquired in failed Nigerian Universities. Now as much as I agree you make a bit of sense in your last comment, you tarnish everything by mixing reality with fantasy. Figments of your imagination don't impress me.

You claim to be 24, yet you have the boldness to claim to have successfully developed & implemented over 20 business plans in the last 2 years.... An obvious lie as if that was the case you'd should be the Nigerian Warren Buffet.

You don't sound smart, pragmatic or realistic enough to be able to successfully develop & implement a single viable business plan, let alone 20, at best you're just a secretary or a desk clark, that's your glass ceiling.

I guess you were certified by the BOI (Board of Ignoramuses) because you're truly a worthy candidate.

50calibre:
Your reasoning is too poor for a guy of 24, with failures like you being churned out annually by sub-standard Nigerian universities, the future of that country appears bleak at best.

Wherever I come across moronic statements like yours, I check out the profile to understand the mind of the moro*n who made the statement.

Nigeria's population alone, naturally makes it a very attractive destination for foreign investment, thats a given so stop talking shi*t. As a matter of fact the Jonathan administration could attract even more investment by addressing basic security & electricity concerns.

Now can you tell me what the government has done to promote entrepreneurship and business growth? Can you also tell me what these vast opportunities created by the administration are because last I checked, majority of Nigerian graduates are unemployed.

What I find most funny is your statement about foreigners coming to invest in the country & then taking their profits home hahahaha so you've unwittingly admitted that the Jonathan administration is incapable of protecting the interests of its citizens.

It's the governments responsibility to ensure that foreign cooperations give back adequately to the society in which they operate by paying corporate taxes and creating employment, whatever profits are left, they're allowed to take anywhere, same thing anywhere in the world. So you don't see your government's failure in allowing these foreign business circumvent the system?

You're a failure!! A quack management consultant who much like his president, is out of touch with reality & common sense. I won't consult you on how to manage anything, not even my toilet.

JackBaueress:
that's a big fat lie! There is no single project by Jonathan and his wife to empower women. Stop lying Joseph!

50calibre:
Lol of course you live up to my expectation. I'm guessing the 25 at the end of your moniker is your age. For a guy of 25, you sound incredibly retar*ded, more a like a 25 year old with a mental age of an 11 year old boy.

Your reasoning has been impeded by your stu*pidity, else a quick check of my profile should have revealed I'm not one of you impoverished louts.

So let me ask you again, was your previous comment sensible? This time around, come back with something meaningful, not juvenile invectives.

Kolade354:
You this dumb idiotic fvctard is just pissing me off.........I bought a litre at #100 and i bought #900 so pls fuckoff you this bought soul.

Kolade354:
You are the most stupi)d human being have ever cum across, me buying from black market...........No need talking to a bought soul like you.

Kolade354:
Oponu omo, I bought a litre yesterday at #100 per litre, majority of them are employed in the okada and 1960 bet industry..........You know nothing about politics you are just to shallow that you read something on the pages of newspaper and you believe it

Kolade354:
Dindinrin majority of them are employed in your father company abi? Thank God you said oil price has crashed since 5 month ago and will all expect it to happen here in Nigeria but in Nigeria unfortunately a litre is #100 even #110 in some place and lastly if you have any proof to show that Buhari and shettima kidnapped over 200 gurls that it took the present govt 19 days to confirm their abduction then provide your proof or forever hold your peace.

50calibre:
Bleating retar*d!! Your statement here is further proof that the average Nigerian is inherently stupi*d.

I'm sure you thought this was a reasonable statement right? "Employers of labour & captains of industry are voting Jonathan while jobless idiots are voting Buhari " so in essence, Jonathan's government is only for the rich, the top 1%, what about the remaining 99% or your so called "jobless idiots" who make up the larger population, don't they count? How is this a symbol of good government?

Your ignorance is sickening!!!

http://media.tumblr.com/390b7c7fbf26daf5ad198c9469325194/tumblr_inline_nki8lgF7Aa1qk7c52.gif

Immarshall:
So dumb people like you exist??

Kolade354:
Ode the type of change we want is to see our youths gainfully employed,our economy will be great again not when #1 dollar-#225, the type of change we want is too see nigerians enjoying there resources not when we are buying fuel for #100 per litre.............Lastly we want over 200 kidnapped gurl which this present Govt has failed to protect to return back home safely.

LRNZH:
OK read this from residents, not just in Kano alone:

Mynd44:
You want me to believe a contractor as regards his project which can cause him his job over the public?

*takes another drag of weed*

LRNZH:
What were you expecting to hear from the contactor in these polyical times? Einstein.

LogicPower:
OMG! And your moniker is 'sweetguy' ?

The unwarranted and unprovoked bitterness you expressed here against the 'abokiis' makes mockery of your moniker. Hence, 'bitterguy25' would describe you more appropriately.