Show evidence of N1trn disbursement to MSMEs since 2015 – Peter Obi challenges FG

Show evidence of N1trn disbursement to MSMEs since 2015 – Peter Obi challenges FG


The 2023 Labour Party presidential candidate, Peter Obi, has
challenged the Federal Government to show evidence of disbursement of N1
trillion to Micro, Small, and Medium Enterprises, MSMEs, in Nigeria since 2015.

 

Obi gave the charge in a post on his verified X handle on
Wednesday, saying that most Nigerians are not aware of any such disbursement.

 

He stressed that over 80 percent of the citizens are unaware
of the very existence of the Development Bank of Nigeria, DBN, which released
the report.

 

According to him, the level of knowledge about the existence
and utility of such an institution is directly proportional to its impact on
the people it is meant to serve.

 

“I recently read a report from the DBN stating that it has
disbursed over N1 trillion to MSMEs in Nigeria since 2015. By simple conversion
over the said period, this amounts to more than $1 billion.

 

If indeed such an amount was deployed to support
enterprises, the results should be evident. For instance, if $1 billion were
disbursed in small loans averaging about $,1000 each, it could have supported
at least 1 million small businesses.

 

“The ripple effect of this would have been no less than 3
million new jobs, with visible growth in enterprises, an improved economy, and
measurable progress in lifting people out of poverty.

 

“But the reality before us today tells a different story:
unemployment remains at a record high, businesses are struggling to survive
rather than thriving, many enterprises are shutting down or relocating outside
Nigeria, and poverty is deepening instead of reducing. So the critical question
is: if N1 trillion truly left the coffers of DBN to empower Nigerians, where
did the money go?

 

“How can such a huge sum be disbursed and yet ordinary
Nigerians feel no impact? Empowerment is not a slogan or a campaign tool – it
must be proven by results. Nigerians need to know where the money went. Who
exactly were the beneficiaries? What tangible businesses were created? Where is
the proof of jobs generated or poverty reduced?

 

“Without answers to these questions, the claim of ₦1
trillion disbursement remains yet another round of grand deception, where
scarce national resources are captured by a few elites and recycled under the
guise of empowerment schemes.

 

“Nigeria must insist on transparency and accountability. Our
people deserve evidence that such vast sums are being invested in their lives
and future—not lost to corruption or buried in empty statistics,” he wrote.

  

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Source: Nigerianeye

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