The Managing Director, Pel Extract Limited, Linus Kotey, who is also the Chairman, Lagos State Small Scale Industrial Estate Matori, Lagos, has urged the Central Bank of Nigeria (CBN) to sanction the banks for making it difficult for Micro, Small and Medium Enterprises (MSMEs) to access the N220 billion set aside by the apex bank for MSMEs.
He stated this in an exclusive interview with Daily Times in Lagos, adding the banks may have their own criteria of disbursing the loan which is not known to the applicants.
“But I think the delay in disbursing the loan to SMEs is their way of keeping the money longer in the banks. I have not seen many who have access the loan. This is an estate of about 37 occupants. I have not seen one person who has accessed the loan. That means something is wrong somewhere. The government should ask the banks why have you not disbursed the loans? May be they will seat up,” he stated.
He maintained that the CBN being the owners of the fund and being in position to translate the government objective should monitor the banks to know how much disbursed to MSMEs because that is the objective.
“And if necessary sanction some banks for not disbursing the credit facility. They should have a way of monitoring the number of applications that are submitted to these banks and how many applications treated and disbursed,” he said.
He also called on the DISCOs to do more with regard to power distribution. “The Distribution companies should do a good work with a good spirit in the power distribution areas. Power certainly is not everywhere but they should ensure that there is power supply in industrial areas from this time to this time so that they can plan their production along with regards to when there will be power supply. They should give more predictability. This will enable them to generate more income. It is cheaper getting power supply from Discos than providing power supply by oneself by running generator,” he added.
The government accord g to him should make power supply a top priority in order to encourage independent power supply so that captive areas can generate their own power and run it.

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