Chamber seeks speedy disbursement of ESP funds

The Council of Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has called for accelerated disbursement of funds under the Economic Sustainability Plan (ESP).

The call was one of the resolutions reached during the first quarter meeting of the council which was held in Abuja.

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According to the Council in a statement, the call was to consolidate the recent modest gain reflected in the 0.11 per cent Gross Domestic Product (GDP) growth in the last quarter of 2020 which indicates that the country is technically out of recession. It said the disbursement of the ESP fund, according to the council, will increase the momentum of economic activities especially through the SMEs who are the target of the stimulus packages.

The meeting which was presided over by the National President, Hajiya Saratu Iya Aliyu welcomed the plans by Nigeria Export Promotion Council  (NEPC) to  commence disbursement of funds under the Export Expansion Facility including the fund earmarked to support Exporters and increase contributions of non-oil exports to GDP.