The Minister of Budget and Economic Planning, Sen. Abubakar Atiku Bagudu, has urged the Abuja Chamber of Commerce and Industry (ACCI) to seek financial support from development partners. This initiative aims to boost Small and Medium Enterprises (SMEs) in Nigeria. A total of 150 billion Euros from the Global Gateway Facility is set to be available for disbursement by 2030.
Bagudu made this call during a visit from the ACCI President, Emeka Obegolu, on Tuesday. He emphasized that his ministry is responsible for coordinating foreign bilateral assistance to support Nigeria’s development. This involves collaboration with federal and national institutions, the private sector, and civil society organizations.
The Minister highlighted the need for $100 billion in annual investments from the capital market and private sector, drawing examples from Brazil and Indonesia.
In response, Obegolu thanked Bagudu for promoting economic development through strategic policies and resource allocation. He also praised the Ministry’s support for the ACCI’s Investment Climate Reform (ICR) Facility workshop, which aims to foster sustainable business growth.
Obegolu urged the Minister to address the issue of multiple taxation, as it discourages business growth.
