• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Financial Literacy Small Business

Access to finance remains one of the biggest threats to MSME – CBN

Ubah Jeremiah Ifeanyi by Ubah Jeremiah Ifeanyi
September 27, 2021
in Small Business
Central bank increases Interest rates to 4.2%
Share on FacebookShare on TwitterShare on Linkedin

The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has stated that access to finance remains one of the biggest threats to MSME development in both developed and developing economies.

This was disclosed by Mr Osita Nwanisobi, Director, Corporate Communications, who represented the CBN Governor at a keynote address at the 30th-anniversary conference and awards of the Finance Correspondents Association of Nigeria (FICAN) themed, “Financing Infrastructure & SMEs for inclusive growth in the post-COVID-19 economy.”

Despite being a major driver of growth, innovation, and job creation, he explained, the ability of micro, small, and medium enterprises (MSMEs) to spur growth and create jobs has been hampered by a lack of access to quality infrastructure, according to Vanguard.

RelatedStories

CBN, forex

CBN says forbearance-affected banks under close supervision 

June 18, 2025
Federal High Court, REA

Supreme Court Judgement: Judge to hear committal suit against CBN Governor on June 23 

June 17, 2025

What the CBN said

The CBN Governor in his statement delivered by Nwanisobi said, “Beyond infrastructure, access to finance remains one of the biggest threats to MSME development in both developed and developing economies alike, with serious implications for productivity, economic development, and job creation.” 

Mr Emefiele asserted, “The financing gap for MSMEs in Nigeria is estimated to be about N617.3 billion annually pre-Covid-19 pandemic, as less than 5 percent of these businesses have access to adequate finance to support their working capital and business expansion needs (PwC). Other constraints to MSME development in Nigeria, as noted in the survey, included difficulty in finding customers, infrastructure deficit, insufficient cash flows, multiple taxations, regulatory burden, and sub-optimal implementation of the provisions of the MSME policy.”

He revealed that the apex bank has put in place several policy measures to stimulate economic growth and reduce the impact of the COVID-19 pandemic on Nigerians. He reiterated that the CBN has remained committed to fulfilling its developmental mandate by collaborating with stakeholders across infrastructure and MSME segments in order to boost domestic output.

“There is an urgent need for fiscal authorities to collaborate with the Central Bank of Nigeria to change the lenses through which they look at MSMEs and infrastructure development, by developing innovative policy measures to unlock the potential of these enterprises to drive innovation and industrialisation. Distinguished ladies and gentlemen, without adequate infrastructure, the Nigerian economy cannot overcome its structural challenges and achieve growth, as well as development,” the CBN Governor added.

In case you missed it

  • The CBN in an effort to boost Micro, Small and Medium Enterprises (MSMEs) access to credit, developed guidelines for regulation and supervision of credit guarantee companies in Nigeria.
  • With the aim of supporting MSMEs across the country, the CBN disbursed N134.57 billion to Agribusiness/Small and Medium Enterprise Investment Scheme (AGSMEIS), and for the Targeted Credit Facility (TCF), the sum of N343.21 billion.
  • The National Association of Microfinance Banks (NAMB) has urged monetary authorities to widen the scope of their policy actions in order to better fund the country’s Micro, Small, and Medium Enterprises (MSMEs).
Tags: CBNCentral Bank of NigeriaMSMEs
Ubah Jeremiah Ifeanyi

Ubah Jeremiah Ifeanyi

For further inquiries about this article, contact: Email: Ifeanyi.ubah@nairametrics.com Twitter: @ubahjc Linkedln: Jeremiah Ubah

Related Posts

CBN, forex
Bank Recapitalization

CBN says forbearance-affected banks under close supervision 

June 18, 2025
Federal High Court, REA
Financial Services

Supreme Court Judgement: Judge to hear committal suit against CBN Governor on June 23 

June 17, 2025
Zenith, Access leads as banks’ CSR donations
Financial Services

BAD LOANS: Nigerian listed banks incur N3.77 trillion in loan losses since 2023, see top losers 

June 16, 2025
Naira , dollar, exchange rate
Currencies

Naira ends week mixed: Falls to N1,554/$ at official market, gains to N1,595/$ on parallel market 

June 14, 2025
CBN, forex
Financial Services

CBN suspends dividends, bonuses, and foreign investments for banks under regulatory forbearance 

June 14, 2025
CBN, forex
Financial Services

No recapitalisation deadline extension for BDCs, CBN says 

June 11, 2025
Next Post
Northern Governors set to take decision on VAT controversy as they meet today

Northern Governors set to take decision on VAT controversy as they meet today

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • DMO allots N4.01 billion in FGN Savings Bonds for June 2025  
  • UNFPA: 90% of Nigerian women aged 50 and above had fewer children than desired – Report
  • NIBSS unveils National Payment Stack to revolutionize instant payment in Nigeria 

Follow us on social media:

Recent News

FGN Bonds, bond, DMO set to auction N150 billion in FGN Bonds to investors , FGN Bond for February 2020 oversubscribed by investors, DMO suspends April 2020 FGN savings bond offer

DMO allots N4.01 billion in FGN Savings Bonds for June 2025  

June 18, 2025
Global mortality of children under-5 drops to 4.9 million, progress remains slow- UN Report 

UNFPA: 90% of Nigerian women aged 50 and above had fewer children than desired – Report

June 18, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics