Overview

The document is a goodwill address by the Governor of the Central Bank of Nigeria at the 9th Bankers Conference, focusing on the utilization of SMIEIS funds. The address highlights the importance of Small and Medium Enterprises (SMEs) for Nigeria's economic growth and diversification. It reviews past SME financing schemes, including CBN credit guidelines, World Bank-sponsored SME programs, development finance institutions, and fiscal incentives, noting their limited impact. Key constraints for SMEs include poor access to long-term funds, inadequate infrastructure, and bureaucratic inefficiencies. The address underscores the need for a right approach to utilizing SMIEIS funds to foster SME development.

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