Buhari’ll do well to reposition micro-finance sector | Independent Newspapers Limited
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Buhari’ll do well to reposition micro-finance sector

Posted: Apr 14, 2015 at 11:00 am   /   by   /   comments (0)

By Onoja Audu – Correspondent, Jos


Immediate past President of the National Association of Micro-Finance Banks (NAMB), Chief Jethro Akun, has advised President-elect, General Muhammadu Buhari to reposition the micro-finance sector for greater access to micro-finance loans as a dependable way to create jobs for youths and reduce anti-social acts that fuel insecurity.

Akun, who gave the advice in Jos while speaking to newsmen, said many Nigerians are jobless because they have no capital to run small businesses of their choice.

He believes that if Buhari’s administration would develop the micro-finance sector such that more Nigerians would have access to funds through micro-finance banks, the benefits of making jobs available to more Nigerians who would be too gainfully employed to be involved in security-threatening acts would be achieved.

He said: “I was in Germany where we understudied their period of crisis. We found that at that time, it was micro-finance banks that sustained their economy.

“If you empower the micro-finance sector and everybody is busy working, nobody will think of anything harmful to either themselves or the larger society.”

Buttressing his concept further, Akun said there are various ways in which government could grow the economy.

“There are people in a number of countries who have ideas and develop patterns but don’t have the money. Government will say, ‘look, we establish this factory for you, we pay you for the patterns, banks will provide you with soft loans, you will be there to run the place.’

“That way, you are not only employed, you find yourself becoming an employer of labour. There are so many jobless youths who shouldn’t be jobless. All they need is capital,” he explained.