Latest report by the Sustainable Entrepreneurship and Economic Development Initiative , has revealed that Nigeria has lost over $1 billion to corruption-related Medium Small and Medium Enterprises programmes in four years.
The report titled, ‘Stolen dreams: How corruption negates government assistance to Nigeria’s small businesses,” was produced and launched Wednesday in Abuja, by the Carnegie Endowment International Peace, in collaboration with the Open Society Initiative for West Africa . According to him, the entities operate opaquely and bristle when asked how they spend public funds, even when corruption allegations about their activity surfaces.
“Exacerbated by mismanagement and broader policy failures, this form of corruption has disproportionately high multiplier effects. It inflicts lasting damage and opportunity costs on a sector that employs 84 per cent of Nigerian workers and contributes about 50 per cent to Nigeria’s Gross Domestic Product.
They never gave loan to we that need it.....
I'm not sure if the FG has any agency dedicated to reading news such as this everyday to lunch counter attacks on agencies that use projects and SMEs loans to siphoned money into their pockets. Corruption die hard in Nigeria any way you cut it.
Wat has buhari been doing
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