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NACCIMA Council calls for Accelerated Disbursement of Funds under ESP

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NACCIMA Council called on Government for immediate and accelerated disbursement of funds under the Economic Sustainability Plan ESP.
The call was made in their first quarter meeting held in Abuja last Thursday where in one of its  resolutions,  described it as an urgent, strategic option to consolidate the recent modest gain reflected in the 0.11% GDP growth in the last quarter of 2020 which indicates that technically the country is out of recession.
The council was however of the view that the GDP growth was too little and not significant in the face of high inflation,   unemployment, increasing Foreign and domestic debt. Steps should therefore be taken to consolidate the gain  and upscale growth and this can be done through  immediate  disbursement of   Funds under the various stimulus packages.
This is to  increase the momentum of economic activities especially through the SMEs who are the target of the stimulus packages including the N50billion SME survival funds and other funds specifically allocated to support Women owned businesses.
The Council also welcomed  the plans by Nigeria Export Promotion Council  (NEPC) to  commence disbursement of Funds under the Export Expansion Facility including the Funds specifically earmarked to support Exporters and increase contributions of non-oil Exports to GDP. The NACCIMA Council advised that consideration should be given to involvement of Chambers across the country in the disbursement of the Export Development Funds in particular.
In addition the Council meeting stressed the need for effective security across the country to ensure safety of lives and properties and ensure appropriate environment for businesses to thrive.
The National President of NACCIMA, Hajiya Saratu Iya Aliyu presided over the Council meeting which was attended by representatives  of the Hon Minister of Industry Trade and Investment Otunba Niyi Adebayo, the FCT Minister Alh Muhammad Bello, Executive Director Nigeria Export Promotion Council, Otunba Segun Awolowo. Also present was the Managing Director the Nigeria Export Processing Zones Authourity, Prof Soji Adesugba. Members of  NACCIMA Council from   Chambers from across the Country attended the meeting.
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