How Atiku’s $10bn MSME Fund Should Be Shared -Experts

How should the $10bn Micro, Small & Medium Enterprises (MSME) fund proposed by Alhaji Atiku Abubakar, presidential candidate of the People’s Democratic Party (PDP) in April elections be shared?

Atiku’s $10bn MSME fund has become an issue of contention in some quarters, even before the money is made available, and in fact, not minding whether or not the politician would win the election.

Abubakar a strong contender in the elections, appears to have scored some points by focusing on a sector of immense financial need in the economy, the real, sector and promise of a stimulus fund of $10 billion should draw attention.

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A report in NAN says Abubakar unveiled plans of reviving the economy by launching a $10 billion MSME fund, a sort of economic stimulus fund within the first 100 days in office if he is elected.

Experts from different fields have since joined the fray, suggesting best ways they think the money should disbursed.

For example, Mr Ladi Ogunseye, Fintech and Marketing Consultant, who emphasised transparency in the disbursement of such a fund, said they would be need for a model to that effect to be put in place.

“To surmount disbursement challenges of the proposed funds and avoid diversions, a better funding model is one driven by private sector.

Atiku Abubakar

“However, government must build sustainable policies such that even if there’s a change of government, the structure in place keeps the MSMEs going,” he said.

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Without asking much questions about the possibility of the professed Atiku’s $10bn MSME Fund, many other people have concerned themselves how it should be disbursed.

for Finance and MSME expert, Mr Iwalewa Jacob, the need to first  identify gaps in the MSME ecosystem especially infrastructure deficit, lack of capacity and funding to better the lot of the sector, is key.. This he reportedly said, is to determine how best to disburse such stimulus package.

“Entrepreneurship is about solving problems and creating value, then you attract capital and customers.

“MSME need to build skill set, mindset, and innovate to adequately manage capital and there must be stakeholders’ engagement to address these challenges and address funding,” he said.

Contributing, an agriculture consultant, Dr Abubakar Bamai, spoke about the importance of technical knowhow in how to handle such a fund.

Deputy National Secretary, Nigerian Business Community for Atiku/Okowa 2023, Mr Sam Aiboni, suggests the need for the MSME to remain the focus during the campaign, adding “We have fundamental problems of access to capital for businesses seeing that a young man that just comes out of school cannot just go to the capital market for funds or have access to funds without lending rates that are obnoxious”.