Most of the small and
medium scale enterprises in the country are suffering from lack of enough
capital for sustenance and expansion while commercial banks in the country make
it difficult for them to access loans.
Small and medium scale
enterprises can drive the Nigerian economy if they are encouraged to thrive and
in turn create employment opportunities for millions of Nigerians.
It is in the light of
this that I prescribe that each bank in the country shall dedicate 30 percent
of its funds to lending by Small and Medium-scale Entrepreneurs (SMEs), at a
reasonable single-digit interest rate. With this, the economy of Nigeria will
definitely experience a turn-around in a short period of time.