This comment took me to reviewing the workings and structure of SBA. Been seeing couple of adverts and posts on SBA but never bothered to check until now. Why can’t Nigeria adopt same structure in support of small businesses and SMEs?...1 https://twitter.com/eldivyn/status/1245809576504700928

All prior and subsisting government’s institutions and programs for on-lending to SMEs and individuals have not achieved any reasonable results because of the Nigerian factors fraught with structure of such institutions-corruption, fraud, lack of transparency, to name a few....2

It is really pathetic. All the agric devt banks, Lagos this, BOI, Trader money, empower etc have not achieved required traction to drive development. ....3

A structure like SBA ensures that only qualified and bankable projects or individuals get access to credit. Empowering commercial banks and other qualified lenders to review and approve application for loans while government only guarantees.....4

Is just the only way to eliminating fraud and other irregularities that facilitated failure of other schemes currently existing and those that failed in the past. ..5

No commercial bank or other private lenders would risk building up its loan books with credits disbursed to fraudulent projects or individuals that will eventually not pay back, hence my age long preference for this type of structure....7

Allowing commercial banks and private lenders to only take such application for loans to small business after detailed review while the government guarantee the loan will remove all irregularities from the process. ...8

I am really not getting why we are yet to wake up to this fact. We waste money to set up new institutions to build credit program, qualify and disburse loans to individuals and businesses that never pay back and repeat the process over again...10

This is despite the fact that we have existing private institutions like banks and other lenders with governance structure to handle such transactions better. ....10

I think we are deliberately retaining current structures to perpetrate fraud and not in the interest of SMEs and individuals genuinely requiring loans to scale their businesses.

@jidesanwoolu @MBuhari @ProfOsinbajo I am directing your attention to this thread for insights on the need to review the structure and modus operandi of governments support towards funding SMEs in Nigeria.
Scale down all institutions existing.....12