NASSI, NERFUND sign MoU on project funding

The Nigerian Association of Small Scale Industrialists has signed an agreement with the National Economic Reconstruction Fund to boost funding of projects for its members.The agreement allows NASSI to present its members with their projects for evaluation before funding to NERFUND.The Memorandum of Understanding was signed at the NERFUND office between the Managing Director of NERFUND, Alhaji Baba Gimba, and the National President of NASSI, Mr. Chuku Nwachuku.Nwachuku, while speaking at the signing ceremony, lamented that given the enormity of demand for funds and the nations quest for development, there was need for more development finance institutions in Nigeria.He said, A country of 167 million people with some 59 million small-scale industries, having only three functional DFIs, that is clearly inadequate, and I am calling for more DFIs.He noted that the association would ensure that it played its role despite the funding challenge currently before it.NASSI, he said, would embark on a drive to get state governments to make funds available to small-scale industries.
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