The Chartered Institute of Bankers of Nigeria (CIBN)/Bankers’ Forum, Delta State Branch, through a graphic presentation by the Guest Speaker at the 4th edition of its Annual Lectures in Asaba, Dr. Jonathan Ososuakpor, MD/CEO of Amju Unique Microfinance Bank, as well as a panel discussion and other submissions by participants, has proffered ways out of the current harsh operating environment faced by Micro, Small and Medium-scale Enterprises (MSMEs) in the country.
President of Chartered Institute of Bankers of Nigeria (CIBN) and Chairman of Council, Prof. Pius Deji Olanrewaju who was connected electronically, welcomed the guests and encouraged them to have a fruitful deliberation. He was earlier in Asaba on an official visit, saying on arrival at the Asaba International Airport, that among the reasons for the visit, was to close gap with CIBN branches nationwide. Olanrewaju spoke on the Annual CIBN Delta State Branch lecture, proposing ways to revitalize MSMEs, such as increased financial support, electricity and infrastructure provision, among other aids to bail out the MSMEs.
Chairman of CIBN, Delta State Branch, Barr. Charles Ojakovo HCIB, FICMC who was the chief host, welcomed guests to the Annual Lecture held at Orchid Hotel, DBS road, Asaba on December 7, saying that this year’s theme “Policies and Roles of CBN and Financial Institutions in Supporting MSMEs and FGN’s Grow Nigerian project to Achieve Economic Growth and Stability”, was carefully chosen and very apt in view of the downturn in the economy and the persistent high inflation crisis presently facing our country.
He said that the “bedrock of any developing and developed economy is built around the MSMEs. So there is need for the government both at the Federal and state levels to lay more emphasis on the MSMEs performance and growth. We however agree that the government cannot do this alone, hence the need for the intervention of financial institutions, development banks like the BOI and the CBN.”
He continued in his welcome address to say that “Nigeria presently has a GDP of $253 billion or N20.12 trillion which is nothing to write home about, compared to other countries even in Africa, with South Africa leading the pack with $373.23 billion. Our government has to pay more attention to MSMEs which presently contributes about 46.32 per cent to the GDP. This critical sector has the potential to do much better and put our economy on the path of recovery and stability.”
The annual lecture was not tailored to suit bankers alone, but also for business men, entrepreneurs, government officials, policy makers and students who were present at the occasion. The Chief Economic Adviser to the Governor, Dr. Barry Gbe who is a member of the CIBN and one of the pillars of CIBN, Delta State branch was present at the annual lecture. Others were Dr. Godwin Adolor, Executive Secretary, Delta State Medium, Small and Micro scale Entreprises Development Agency (DEMSMEDA), who delivered the keynote address, among other dignitaries in banking, the academia, the business sector and the general public. Also present were students of Banking and Finance and Economics from Delta State Polytechnic, Ogwashi-Uku and University of Delta (UNIDEL), Agbor.
In a Powerpoint presentation, the Guest Speaker, Dr. Jonathan Ososuakpor said MSMEs are the safest route to overcoming poverty in the country. Among his recommendations was that Nigerians must have an attitudinal change and patronize Made-in-Nigeria goods so as to enhance growth and stability of MSMEs, while he called on the country to midwife a new academic curriculum to replicate the apprenticeship system in schools/educational institutions.
Saying that fund disbursement depends on market structure, Ososuakpor called for a more efficient market structure that will benefit MSMEs.
Ososuakpor said Amju Unique Microfinance Bank has come a long way in supporting MSMEs through a number of financial products that are tailored to meet their needs.
On his part, while speaking with journalists, Dr. Godwin Adolor said DEMSMEDA has helped to energize MSMEs and make them a bedrock of economic diversification, empowerment and employment generation in the state.
Later at the Dinner/Award night, Delta State Head of Service (HOS), Mr. Reginald Bayoko mni and Permanent Secretary/Accountant-General of Delta State, Mrs. Joy Enwa were conferred as Patron and Patroness of the CIBN in Delta State respectively.
Ojakovo informed that this year’s edition provides a point of intersection between financial institutions and the MSMEs to point the way forward for the critical MSME sector in the state and entire country, adding that this is the reason the theme of the annual lecture was been carefully selected.
