MEN’S MISSIONARY UNION (MMU)

(BAYELSA BAPTIST CONFERENCE)

Programme for the

13
ANNUAL
th

SESSION
BAYELSA BAPTIST CONFERENCE

Theme:
LOADED
DATE:
23RD-24TH
JULY, 2021
TIME:
FRI. // 2PM
SAT. // 8AM
& LIFTED DEUT. 8:18

VENUE: JESUS CITY BAPTIST

CHURCH AKPIDE BISENI
 MEN’S MISSIONARY UNION (MMU)
(BAYELSA BAPTIST CONFERENCE)
Programme for the

13th
ANNUAL
SESSION
BAYELSA BAPTIST CONFERENCE

Theme:
Loaded &
LIFTED
23rd-24th July, 2021 ||
VENUE: JESUS CITY BAPTIST CHURCH AKPIDE BISENI
Jesus is Lord
 MEN’S MISSIONARY UNION (MMU)
(BAYELSA BAPTIST CONFERENCE)
2021 ANNUAL CONGRESS

THEME: LOADED AND LIFTED

TEXT: DEUT 8:18
CAMP PASTOR: REV. JULIUS BIOKU

ORDER OF PROGRAMME
OPENING SESSION (2: 00PM – 5:30PM)
PRESIDING: PASTOR DR. MEMORY QUEENSOAP
GOD INVITES US TO BE LOADED
2:00-2:10pm As We Li Him Up In Praise Praise Team
2:10-2:20pm As We Li Our Eyes To Him In Prayers Pst. Memory
2:2—2:25pm As We Echo The Theme Song Song Leader
WE PREPARE FOR HIS LOADING
2:25-2:30pm As We Renew Our Covenant Bro. Aku
2:30-2:35pm Through The Father’s Pledge Bro. Aku
2:35-2:45pm Through Welcome Address Bro. Akpoebi
2:45-2:50pm In Response Bro. Izante
GOD LOAD US
2:50-3:00pm Through Spiritual Songs Host Choir
3:00-:50pm Through Team Exposi on Rev. Bioku
3:50-4:00pm As We Invest in his Kingdom Bro. Ake
4:00-4:50pm THROUGH SEMINAR: SMEs and Government Social
Interven on Schemes. Dr. Ala Peter
4:50-5:00pm As We Inquire To Know More Dr. Ala Peter
WE RECESS FOR LIFTING
5:00 – 5:10pm Through Union Update Dn. Ebi
5:10 – 5:20pm Through Benedic on Pst. Memory
NIGHT OF WONDERS
PRESIDING: Bro Emmanuel Aku

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 MEN’S MISSIONARY UNION (MMU)
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2021 ANNUAL CONGRESS

WE ASSEMBLE FOR LIFTING

6:30-6:45pm As We Li Our Hands In Praise Bro Sasime
6:45-7:00pm We Pe on Heaven Pst. Gilbert
7:00-7:10pm We Invest In The Kings Business Dn. Telu
WE ARE LOADED AND LIFTED
7:10-7:15pm Through The Wri en Word Amb. Promise
7:15-7:25pm Through The Sung Word
7:25-8:10pm Through The Spoken Word Rev. Bioku
8:10 -8:20am Through Prophe c Declara on Rev. Bioku
WE AFFIRM OUR LIFTING
8:20-8:25pm Through Hymnal Praise Team
8:25-8:30pm Through Benedic on Pst. Memory
CLOSING SESSION
SACTUARY 24TH JULY, 2021
PRESIDING PASTOR DR. MEMORY QUEENSOAP
8:00-8:10am Opening Prayer Pst. Sorgwe
8:10 – 8:25am Praise /Worship Praise Team
8:25 – 8:40am Chairman’s Address Pst. Dr. Memory
8:40 - 8:55am Mission Emphasis Pastor God’s Power
8;55 – 9:00am Mission Offering Bro. Ake
9:00 – 10am FRATERNAL GREETINGS:
Bayelsa Bap st Conference President
Execu ve Secretary AABMF Bayelsa
Bap st Conference Chairman
Chairman BBC Pastors Fellowship
WMU Director (BBC)
Moderator Good News Associa on
Host Church Pastor

10:00 – 11:00am: Business Chairman

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 MEN’S MISSIONARY UNION (MMU)
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2021 ANNUAL CONGRESS

11:00 – 11:05am: Themes Song Song Leader

11:05 – 11:50am : Closing Charge Rev. Bioku

LOADED AND LIFTED FOR SERVICE

11;55- 12:10pm: Prayer Ministra on Rev. Bioku
12:10 – 12:20pm: Benedic on Rev. Lee

THE FATHER’S PLEDGE

I Pledge As A Husband
To Be Good And Responsible
To My Wife And Children
To Be A Virtues Father
Who Lead An Exemplary Life
To The Course Of The Gospel
Who Demonstrates Faith
Where There Is Neither Sign Nor Assurance
Lead Other People To Have Hope At The Time Of Hopelessness
Who Loves The Unloveable In Demonstra on Of God’s Perfect
Love
I Further Pledge To Uphold Ethical Teaching Of The Bible
So Help Me God.

BAPTIST MEN’S FELLOWSHIP COVENANT

As Part Of Bap st Men’s Unit In My Church
I Commit Myself To Gather With Other Men
In The Spirit Of Christ For Study
Fellowship And Mutual Support In Our Common Task
Daily Encounter The Living God In

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 MEN’S MISSIONARY UNION (MMU)
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2021 ANNUAL CONGRESS

Personal Witness/Ministry In The Word

Give Sacrificially, Beginning With The Tithe,
Become A Mature, Informed Disciple Of Christ.
Celebrate The Risen Lord In Weekly Worship
So Help Me God.

DIRECTORY OF THE
NEW OFFICER
S/N NAME OFFICER PHONE NO.
S/N Pastor Dr. Queensoap Memory Chairman 08030573204
S/N Bro. Emmauel Aku Vice Chairman 08036722588
S/N Dn. Ebi Atama Secretary 08036756423
S/N Amb. Daniel Gbisa Ass. Sec/RA Sec. 08069545641
S/N Pastor God’spower Okitikpi Mission Ofcer 08037343802
S/N Pastor God’spower Okitikpi PRO 08032677969
S/N Bro. Preladen Osakwe Fin. Secretary 08037958555
S/N Dn. Telu ThankGod Treasurer 08035427887
S/N Dn. Thompson Otoni Prayer Secretary 08034911116
S/N Pastor Oweiowei Owei-Tongu Auditor 08039075625
S/N Bro. Irou James Abrakassa Song Leader 08032582351
S/N Bro. Peter Benson R.A Director 08068508754
S/N Pastor Hilton Sorgwe Ex-Ofcer 08037603209

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 MEN’S MISSIONARY UNION (MMU)
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2021 ANNUAL CONGRESS

Hymnal
BLESSED ASSURANCE FAITH OF OUR FATHER
1. Blessed assurance, Jesus is mine! 1. Faith of our fathers, living still
O what a foretaste of glory divine! In spite of dungeon, fire, and sword;
Heir of salvation, purchase of God, O how our hearts beat high with joy
born of his Spirit, washed in his blood. Whene'er we hear that glorious word!

Refrain: Refrain:
This is my story, this is my song, Faith of our fathers, holy faith!
praising my Savior, all the day long; We will be true to thee till death.
this is my story, this is my song,
praising my Savior all the day long.
2. Faith of our fathers! we will strive
To win all nations unto thee.
2. Perfect submission, perfect delight, And through the truth that comes from
visions of rapture now burst on my God
sight; We all shall then be truly free: [Refrain]
angels descending, bring from above
echoes of mercy, whispers of love.
3. Faith of our fathers! We will love
[Refrain]
Both friend and foe in all our strife,
And preach thee, too, as love knows
3. Perfect submission, all is at rest, how
I in my Savior am happy and blest, By kindly words and virtuous life:
watching and waiting, looking above, [Refrain]
filled with his goodness, lost in his love.
[Refrain]

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 MEN’S MISSIONARY UNION (MMU)
(BAYELSA BAPTIST CONFERENCE)
2021 ANNUAL CONGRESS

AN ADDRESS PRESENTED BY PASTOR DR. MEMORY QUEENSOAP,

CHAIRMAN MEN’S MISSIONARY UNION, BAYELSA BAPTIST CONFERENCE
DURING THE ANNUAL CONFERENCE HOLDING AT JESUS CITY BAPTIST
CHURCH AKPIDE IN GOODNEWS BAPTIST ASSOCIATION

Fellow Brethren I greet you all At t h e i n c e p o n o f t h i s

in Jesus Christ Name Amen! administra on we made it
Permit me to bring you the clear to everyone that our
gree ngs of our impeccable driving scripture is Col. 3:23
Ag. Na onal President, Dr Soye saying and whatever you do,
P. A s a wo a n d t h e e n re do it hear ly as to the LORD
Na onal Execu ve Council and not to men. We must take
(NEC) of the Men’s Missionary responsibility of our corporate
Union (MMU) of the Nigerian mission task with the mind-set
Bap st Conven on (NBC). that we will give an account to
It is my pleasure to welcome God and not to men.
you to this annual conference. God has helped us to engage a
In deed we are grateful to God full me pastor to our church,
for the grace granted us to Gateway Bap st Church Okodi.
gather because we missed this I must sincerely thank those
sweet fellowship in 2020 due who have sacrificed their
to the scourging COVID-19. re s o u rc e s to e n s u re t h e
Today is a day God has made payment of our pastor ’s
for us to rejoice and be glad. I s pend. Even those on the line
will like to enjoin you to make that have not paid because it
good use of this opportunity to has not come to their turn.
encounter God because this is May God Almighty replenishes
a refreshing hour. all your finances in Jesus Christ
Dear beloved brethren, it is a Name Amen! Let me use this
thing of joy to have you here. opportunity to appeal that

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2021 ANNUAL CONGRESS

2022 is s ll open for those to that we must have a good

key in in the payment of our rela onship with God.
pastor’s s pend. Therefore I urge you to see this
Also, permit me to plead with session as a point of revival,
us to start preparing for the making amends with our
Na onal Congress scheduled Father and re-establishing an
to hold in Abuja. We must not unbroken rela onship with
disappoint God because the Him. It is cri cal to note that
shi of venue from Kaduna to loaded and li ed is sustained
Abuja was basically to ensure and preserved with
that many will benefit in the responsibility as I indicated in
spiritual blessings packaged for my ar cle published in total
the program. We are expected man magazine.
to register at least 40 men from Re m a i n re s p o n s i b l e a n d
our conference. I know we are understand the mes like the
capable to do it. Keep faith men of Issachar. Let us work
alive. Other na onal program together and achieve our goal
updates are in the program and exchange it someday with
booklet. I want to use this a crown. I love you all. Have a
medium to appeal to all men to blissful session. Thanks.
support the royal ambassadors
they are to have their camp
come September, 2021. When
they come demanding please
open your hands for them.
Loaded and li ed is our por on
however it is meant for the
children of God. This means

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 MEN’S MISSIONARY UNION (MMU)
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2021 ANNUAL CONGRESS

important force of driving the

economic growth and development
in both developing and developed
THE MEN’S MISSIONARY UNION (MMU) countries. MSMEs makes up the
BAYELSA BAPTIST CONFERENCE largest business sector in every
A SEMINAR PAPER world economy. Thus, governments
around the globe are increasingly
ON promoting and supporting the
MSMEs growth as part of their
MICRO, SMALL AND MEDIUM overall national development
ENTERPRISES (MSMEs) AND strategy.
THE GOVERNMENT SOCIAL
INTERVENTION SCHEMES
In Nigeria, MSMEs accounts for
BY more than 95% of all productive
DR. DAVID ALA-PETERS MNIM, activities (besides oil and
FCTI, FCA agriculture) with the capacity to
AT THE JESUS CITY BAPTIST employ over 70% of the work force
CHURCH, AGBEDE, BISENE as well as the ability to contribute
23RD JULY 2021 about 70% to GDP. They are the
driving force and establish an
important mainstay of the Nigeria
INTRODUCTION economy. SMEs are the source of
technology innovation and thus
The contributions of Micro, Small holds the key to sustainable
and Medium Enterprises (MSMEs) development of the country.
to the growth and development of
an economy cannot be over-
emphasized. Micro, Small and WHAT ARE MSMEs
Medium Scale Enterprise (MSMEs) Statistical definition of MSMEs
has proved to be a major tool varies from country to country and is
adopted by the developed nations usually based on the number of
to attain socio- economic employees, sales, assets, turnover
development. etc. 3191
According to the World Bank, Micro,
The performance and growth of Small and Medium Enterprises
micro, small and medium (MSMEs) are defined as follows –
enterprises (MSMEs) is a major micro enterprises: 1–9
driver and indices for the level of employees;small: 10–49
industrialization, modernization, employees; and medium: 50–249
urbanization, gainful and employees
meaningful employment. MSMEs S/NINDUSTRYASSET BASEDNO
are globally regarded as an
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 MEN’S MISSIONARY UNION (MMU)
(BAYELSA BAPTIST CONFERENCE)
2021 ANNUAL CONGRESS

OF EMPLOYEES1Micro/Cottage Economic Recovery and growth plan

Industries0-1.5 million1-10 (ERGP) on the performance of
workers2Small Scale Industries1.5- MSMEs.
50 million11-100 workers3Medium The following are some of the
Scale Industries50-200 million101- significances of SMEs to the Nigerian
300 workers4Large Scale Economy.
Industries201 million and Above301
workers and Above.UNDESA – Employment
Report on MSMEs and the
Sustainable Development Goals Recent empirical studies show that
2020 MSMEs contribute to over 55% of
GDP and over 65% of total
In Nigeria, MSMEs definition varies employment in high-income
from organization to organization. countries, Figure 1. MSMEs and
The Small and Medium Enterprises informal enterprises. They account
Development Agency of Nigeria for over 60% of GDP and over 70% of
(SMEDAN) defines MSMEs as total employment in low-income
follows: countries, while they contribute over
95% of total employment and about
S / N S I Z E 70% of GDP in middle-income
CATEGORYEMPLOYMENTASSET countries.
S (N million)
(excluding land and According to the SMEDAN National
Survey of 2017, there are around 41.5
buildings)1Micro enterprisesLess million SMEs in Nigeria which provide
than 10Less than 52Small gainful employment for about 70% of
enterprises10-495 – less than the Nigerian population.
503Medium enterprises50-19950-
less than 500Source: SMEDAN, The Nigeria SME Survey by PWC
2007 2019 indicate that SMEs contribute
48% of national GDP, account for
M S M E s C O N T R I B U T I O N TO 96% of businesses and 84% of
NIGERIA’S DEVELOPMENT employment.
A thriving MSME sector is a catalyst to According to the Nigeria Bureau of
the Economic Development of a Statistics, small and medium scale
Country. MSME is the driving force enterprises (SMEs) in Nigeria have
and establish an important mainstay contributed about 48% of the national
of the nation's economic system. The GDP in the last five years. With a total
importance of SMEs varies with number of about 17.4 million, they
sectors and with the developmental account for about 50% of industrial
stage of a country. Consequently, the jobs and nearly 90% of the
Nigerian government largely hinged it manufacturing sector, in terms of
number of enterprises.

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Poverty Alleviation Income Distribution

The development of MSMEs is seen The SMEs contribute to a more equal
as the means to accelerating the distribution of income or wealth.
achievement of wider socioeconomic The development of SMEs help
goals, including poverty. In Nigeria, a spread income to more people. Since
large share of MSMEs are informal most Nigeria SMEs owners are living
enterprises and serve as a source of in rural areas, they narrow the gap
livelihood for the base of the pyramid between urban and rural
population. It is estimated that more development and reduce social
than 70 percent of the workforce in inequities and urban migration.
Nigeria operates in the informal
economy either through self- Transformation of Indigenous
employment or from work in other Technology
SMEs. This provides opportunities for
the poor to earn money which All economies have transited from
provides social protection and household artisan industries over
improves the standard of living of the time to the modern industrial set-up
individuals. This eventually pull such which has witnessed phenomenal
persons out of the poverty bracket. upgrading of skills, machinery and
equipment, and management
Wealth Creation practices. Historical evidence
SMEs literally generate new wealth. indicates that most of today’s giant
Big businesses may remain corporations began as very small
confined to the scope of existing firms.
markets and may hit the glass
ceiling in terms of income. MSMEs Production of intermediate Good
and improved offerings, products or SMEs produces intermediate and
technologies from entrepreneurs final consumption goods needed by
enable new markets to be larger enterprises and the economic
developed and new wealth created. system. These include raw materials,
Additionally, the cascading effect of machinery and equipment, spare
increased employment and higher parts and household goods. The
earnings contribute to better national delivery to the large corporations is
income in form of higher tax revenue done through sub-contracting, which
and higher government spending. enables smaller enterprise to supply
This revenue can be used by the their needs, instead of competing with
government to invest in other, them in the production of final
struggling sectors and human consumer goods in which small
capital. enterprises are relatively deprived.
The interdependence of the sector

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provides the backward and forward business owners and small and
integrations which an economy medium business investors through
needs for self-dependence and financing and to help diversify the
sustenance. country dominance of an over-
reliance on the oil sector economy. To
Exports: Any growing business will this goal, the Federal government
eventually want to get started with policy interventions for the financing
exports to expand their business to of SMEs are generally geared
foreign markets. This is an important towards improving the expected
ingredient of economic development contribution of the sector to the
since it provides access to bigger outgrowth and evolution of the home
markets and leads to currency inflows economic system. Some of the
and access to the latest cutting-edge initiated social programs, aimed at
technologies and processes being promoting SMEs performance are:
used in more developed foreign
markets. Another key benefit is that
this expansion that leads to more Ÿ Small and Medium Enterprises
stable business revenue during Equity Investment Scheme
economic downturns in the local (SMEEIS)
economy.
Small and Medium Enterprises Equity
7. Community Development: Investment Scheme (SMEEIS) is a
voluntary initiative of the Bankers’
Economic development, especially Committee approved at its 246th
the one engineered by the public Meeting held on 21st December,
sector doesn’t always translate into 1999.
community development. Most
businesses are established in The Scheme requires all banks in
communities that can provide the Nigeria to set aside ten (10) percent of
market for the business to strive. their Profit After Tax (PAT) for equity
Consequently, Shops, Clinics, investment and or loans at single digit
Schools, Hotels etc. springs up in interest rate for promotion of SMEs. It
these communities. is a fund pooled together by the
participating banks with the
GOVERNMENT SOCIAL objectives of:
INTERVENTION SCHEMES TO I. Easing the flow of funds for the
SUPPORT SMES establishment of new and viable
The Nigerian government has small and medium industrial (SMI)
introduced different development projects
support policy programs since the ii. Stimulating economic growth
early 1970s to help improve the through evolution of local technology
performance of small and medium for capable and suitable Nigerians

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iii. It will also generate employment banks (DMB) to guarantee loans

iv. Eliminating/ reducing the issued by banks to SMEs.
burden of interest and other financial Ÿ The Scheme have a fund of N200
charges for the entrepreneurs billion to be wholly financed by the
Central Bank of Nigeria (CBN)
v. Providing financial, advisory, with the objectives of:
technical and managerial support
Ÿ i. Fast-track the development of
vi. C o n s u l t i n g t o t h e the manufacturing SME sector of
entrepreneurs; an the Nigerian economy by
vii. Ensuring output expansion, providing guarantee for credit
income redistribution and productivity from banks to SMEs and
of intermediate goods meant to manufacturers.
strengthen inter and intra-industrial Ÿ ii.Set the pace for industrialization
linkages. of the Nigerian economy.
The scheme provides for the funds Ÿ iii. Increase the access to
invested by the banks to be in the credit by promoters of SMEs and
form of equity investment in eligible manufacturers
firms. Banks are allowed to take up to
a maximum of 40% equity holdings Ÿ iv. Increase output, generate
subject to a limit of N200 million per employment, diversify the
enterprises. A consortium of banks revenue base, increase foreign
can jointly invest in an enterprise exchange earnings and provide
subject to the 40% equity holding inputs for the industrial sector on a
limit. The scheme also provides for sustainable basis.
the allocation of 90% of the entire
amount set aside by the banks to the Ÿ MSME Development Fund of
real sector, while the remaining will be N220bn: The Central Bank of
allocated to micro/cottage Nigeria (CBN) as part of its
enterprises. developmental role launched
the Micro, Small and Medium
Ÿ Small and Medium Enterprises Enterprises Development Fund –
Credit Guarantee Scheme CBN MSMEDF Loan in August 15
(SMECGS): This was launched 2013 with a share capital of
by the Central Bank of Nigeria N220B. This is set up to provide
(CBN) in March 2010 in order to support for Microfinance
promote access to credit by SMEs banks/institutions called the
in Nigeria. The Central Bank of Participating Financial Institutions
Nigeria (CBN) is responsible for (PFIs) to lend to MSMEs at 2%
the day to day administration of with a maximum interest rate of
the Scheme. CBN provides 80% 9% per annum.
guarantee to deposit money

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The Fund is split into two Collateral requirement from start-

components, Commercial and ups by PFIs is educational
Developmental components. certificates
The Commercial Component shall i. SSCE
constitute 90 per cent of the Fund ii. National Diploma (ND)
which shall be disbursed in the form of iii. National Certificate of Education
Wholesale Funding to PFIs in the (NCE)
following ratio: iv. National Business and Technical
60% of the Fund: Women Examination Board (NABTEB)
40% of the Fund: Others Objectives v. Higher National Diploma (HND)
of Wholesale Funding are to: vi. University degree (NYSC
a) Provide facilities to eligible PFIs for Certificate where applicable) and a
on-financing to MSMEs; guarantor.
b) Improve the capacity of the PFIs to
meet credit needs of MSMEs; and The start-ups to access the
c) Reduce the rate of financing to the MSMEDF must present their Bank
PFIs and the beneficiaries Verification Number (BVN).
The Developmental Component The mode of application is as
makes up the remaining 10 per cent follows:
of the Fund. It is earmarked for a) The beneficiaries shall apply to
developmental programmes and the nominated PFIs for financing.
start ups in form of Grants targeted b) The PFIs shall appraise the
at the following areas: applications for economic and
a) Capacity building. financial viability.
b) Development of appropriate c) The PFIs shall forward their
regulatory regime for MSMEs applications through the State SPV
financing to the CBN in the prescribed format.
c) Financial literacy and d) CBN shall undertake a pre-
entrepreneurship development disbursement assessment of
d) Mobilization, training and linkage financing requests presented to it by
of MSMEs to financial services the SPVs on behalf of the
e) Research and Development of nominated PFIs.
MSMEs-friendly financial e) CBN shall approve and disburse
innovations and products funds directly to the PFIs’
f) Business Development and correspondent bank accounts. -
Advisory Services inclusive rate of return of 9% per
g) Building of financial infrastructure annum.
to support the growth of MSMEs It The facility shall have a maximum
shall also serve as incentive tenor of one (1) year for micro
targeted at PFIs that demonstrate enterprises. Financing tenor for
good performance under the Fund. SMEs shall be from one (1) to five

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(5) years with the option of (iv) Any other collateral acceptable
moratorium as may be deemed to the participating bank(s)
necessary. PFIs shall re-access the
fund upon full repayment of the Ÿ .The Agribusiness/SME
outstanding. Investment Scheme, set up on
the initiative of the Bankers
As at May 28, 2021, the sum of Committee in 2017 under which
N85.190B has been disbursed all Banks would allocate 5% of
under the Fund to 746 beneficiaries their profits after tax to a fund to
and about N135 billion of the Fund finance small and medium scale
still available for operators agricultural firms;
Ÿ The Commercial Agriculture The scheme is divided into three (3)
Credit Scheme – Established in broad categories;
May 2014, the scheme provides
N200bn, funded through a bond 1. Developmental Component –
issue by the Debt Management to be utilised to administer the
Office but to be operationalised by program by CBN
the CBN – the fund is made 2. Indirect Component – to be
available to participating banks in disbursed either as equity through
support of MSMEs activities in the fund managers
agriculture value chain;
3. Direct Component – to be
1. Agricultural credit from the disbursed as debt to customers
participating banks shall be in the through Banks
form of loans.
The Developmental
2. Interest on loan shall not exceed Component constitutes 5% of the
9.0 per cent inclusive of all charges. fund. CBN will apply this fund for
3. All loans and overdrafts shall capacity building, technical
terminate on September 30, 2025. assistance to MSMEs and cover
operational costs of managing the
The security which may be offered to scheme.
a participating bank for the purpose of
any loan under the scheme may be The Indirect Component
one or more of the following: constitutes 45% of the fund. This
fund is to be applied as equity and
(I) A charge on the movable shall be managed by Fund Managers.
property of the borrower. Applications are submitted through
(ii) A life insurance policy, a PFIs to Project Monitoring Committee
promissory note or other negotiable (PMC), who recommends request for
security further approval by the appointed
Board of Trustees (BoT). Upon
(iii) Stocks and shares; and approval by BoT, CBN disburses fund

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as applicable. Once you apply through your bank,

you need to be trained by any of the
The Direct Component aforementioned institutes and after
constitutes 50% of the fund and this that, you will be able to submit
is to be disbursed as loans to eligible a business plan to your bank and your
MSMEs through Participating bank will forward it to CBN for
Financial Institutions (PFIs). CBN has approval and the fund will be
commenced disbursement under this disbursed by your bank.
c o m p o n e n t , w i t h t h e fl a g o ff
ceremony
th
which held in Abuja on Ÿ The Accelerated Agricultural
12 April 2018. Development Scheme was
established in June 2020 to to
AGSMEIS is sector agnostic and the engage a minimum of 370,000
fund can be accessed for start-up Nigerian youths within the ages of
businesses, business expansion 18 to 35 years in agricultural
or revival of ailing companies in production across the country
sectors such as; over the next three years based
· Agricultural Sector; covering on the following modalities
agricultural value chain activities Ÿ (I) State government to
such as production, inputs supply, mobilize prospective young
storage, processing, logistics and farmers with representation from
marketing. all Senatorial Zones
· Real Sector; including Ÿ (II) State Governments/FCT
manufacturing, mining and to provide agricultural land in
petrochemicals. contiguous locations in all
· Service Sector; including senatorial Zones. Minimum of 100
Information and Communication hectares per cluster
Technology (ICT), beauty and the Ÿ (III) P r o s p e c t i v e
creative industry. entrepreneurs (that meet the
Other activities as the Central Bank of eligibility criteria) shall be grouped
Nigeria (CBN) may determine from into clusters by commodity to be
time to time produced.
Applicants are expected to be trained Ÿ (IV) S t a t e g o v e r n m e n t t o
and certified by any of the CBN allocate 2-5 hectares of land per
approved Entrepreneurial beneficiary
Development Centres e.g. Lagos Ÿ (V) State Government to
Business School, House of Tara, Fate provide access roads, water
Foundation, Thrive Agric etc to sources and other infrastructure
access the loan. that will enhance agricultural
The beneficiary is approved by CBN. production on the land

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Ÿ (VI) States may charge a rental youths;

on land (Max. of N10,000 per ha)
to defray the cost of land clearing (ii) Improve access to finance for
and other infrastructure provided. youth entrepreneurs using a well-
Rental charged will be embedded structured business model;
in the Economics of Production (iii) Stimulate flow of finance to
(EoP) of the farmer. startup enterprises;
On Financing: (iv) Encourage job creation;
I. The PFIs will act as agents of (v) Increase the contribution of the
the CBN in disbursing the financing to non-oil sector to the GDP; and
the beneficiaries, which shall be in
kind. (vi) Promote diversification of the
economy.
ii. The PFIs shall purchase the
inputs for on-selling to the Fund is in form of term loan or working
beneficiaries, using CBN approved capital for startup and expansion
all-inclusive rate of return of 9% p.a. projects for young graduates and
non-graduates in the following sub-
iii. Financing tenor is 6 months for sectors:
grains and broiler production (rice,
maize, soy bean etc); 18 months for I. Agricultural Value Chain (fish
cassava; 24 months for egg farming, poultry, snail farming, etc.).
production and ruminants; 5 years for ii. Cottage Industry.
plantation crops etc
iii. Mining and Solid minerals.
Average financing size of N250,000
per ha for arable crops; N500,000 per iv. Creative Industry (Tourism, Arts
unit for livestock; and N1.5 million and Crafts).
naira for plantation crops like cocoa, v. I n f o r m a t i o n a n d
cashew and oil palm. Communications Technology (ICT).
Ÿ The Youth Entrepreneurship vi. Any other activity that may be
Development programme was determined by the CBN from time to
launched in February 2016 - time.
entirely financed by the CBN - to
promote youth entrepreneurship Loan Tenor
in new agricultural and non- (I) Loans shall have a maximum
agricultural enterprises; tenor of 36 months depending on the
The objectives of the Programme are complexity of the project. Tenor of
to: each project shall be determined in
relation to its cash flow.
(I) Harness the entrepreneurial
skills and innovative capacities of (ii) Working capital facility of 12

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months with a maximum roll over of for all projects.

12 months subject to approval.
(ix) Cost of training for beneficiaries
(iii) The programme allows for will be shared between the CBN and
moratorium of 3 months in the loan the lending bank in a ratio of 50:50 or
repayment schedule and qualified any other agreed ratio.
projects for moratorium shall be
determined on case by case basis (x) Risk sharing on startups will be
at 50:50 between the CBN and the
lending bank as an incentive to banks
Modalities of the Programme to support startups and youth
(I) Loan Amount shall be N3 million entrepreneurs.
maximum for a single obligor and N10 (xi) Disbursement shall be in
million for group projects jointly tranches and attached to project/
owned by 3-5 qualified beneficiaries. equipment financing to minimize fund
(ii) Interest Rate - lending banks diversion by beneficiaries. xii. All
shall access the fund at 2% from the movable collaterals used to secure
CBN and on-lend at a maximum rate the loan shall be registered on the
of 9% per annum, all charges National Collateral Registry (NCR) by
inclusive. the lending bank.
(iii) Funding shall come from the (xii) Within two weeks of repayment
Micro Small and Medium Enterprises of loan, the lending bank shall
Development Fund (MSMEDF). discharge all registered movable
collaterals on the National Collateral
(iv) NYSC Discharge Certificate Registry and notify the customer
shall be the collateral from accordingly
beneficiaries.
(v) Verified certificates of tertiary Beneficiaries
institutions shall be taken as I. A 5 0 : 5 0 s h a r e b e t w e e n
additional collateral for graduate members of the National Youth
beneficiaries. Service Corps (NYSC) and Non-
(vi) Artisans will use their School NYSC members (not more than 5
Leaving Certificate or Technical years post-NYSC).
Certificate or approved Proficiency ii. Be between 18 and 34 years of
Certificate from National Board for age.
Technical Education (NBTE).
iii. Be a NYSC member or non-
(vii) Third party guarantors will also NYSC member (but not more than 5
be provided as additional collateral. years post-NYSC).
(viii) Lending bank shall obtain at iv. Possess a verifiable tertiary
least one credit report on promoter(s) institution certificate.

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v. Artisans shall possess School working capital facility. It is

Leaving Certificate or Technical designed to assist rice millers in
Certificate or approved Proficiency purchasing paddy, for processing
Certificate from NBTE (whichever is throughout the year. It was
applicable). observed that the price of the
locally produced and milled rice
Mechanism for the Programme was too high. The loans have a 6
I. P r o g r a m m e i s a n e q u a l months tenor and an interest rate
opportunity intervention in all of 9% with repayments to be
respects - geo-political zone, gender, made within 12 months.
(dis)ability, etc. Ÿ N a t i o n a l C a s h Tr a n s f e r
ii. Applicants will be pre-qualified Programme
by the lending bank using an on-line The National Cash Transfer
portal. Programme also known as
iii. Pre-qualified applicants will Household Uplifting Programme
undergo training before they can (HUP) is one of the social safety
access the facility. Training will be nets programmes anchored by the
handled by the CBN Federal Government of Nigeria.
Entrepreneurship Development The programme commenced in
Centers (EDCs). September, 2016. The
programme is focused on
iv. Pre-qualified applicants will responding to deficiencies in
submit their business proposal(s) to capacity and lack of investment in
the lending bank for appraisal. human capital, especially amongst
v. Successful applicants will our poorest citizens. Beneficiaries
submit their loan applications in of the programme are mined from
prescribed format to the lending bank. the National Social Register
(NSR), comprising State Social
vi. Lending banks shall receive, Registers (SR) of poor and
process, approve and forward vulnerable households
requests for the facility from
successful applicants to the CBN. It involves the payment of N5000 a
month to individuals in SME and
vii. The pre-qualification and N5000 to Households. As at today
appraisal process by the lending bank only 20 states have been covered.
shall not exceed 15 days from the day
of on-line submission of intent by Ÿ The National Home Grown
prospective beneficiaries. School Feeding programme
(NHGSFP) is a government led
Ÿ The Paddy Aggregation N70 per day school feeding
Scheme, was set up in July 2017, programme that aims to improve
as a short term bridging or the health and educational

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outcomes of public primary hospitality and technology

school pupils. It uses farm industries. The N-Power junior
produce locally grown by programmer has been devised to
smallholder farmers to provide re-model and re-equip10,000
children nutritious mid-day meals schools per year to promote the
o n e v e r y s c h o o l d a y. T h e development of modern skills and
programme links local farmers to knowledge in the school system.
the education sector by facilitating Just 12 primary schools have
their access to the school feeding benefited so far. The National
market. The purpose of this Social Investment Office has
programme was to boost primary acknowledged implementation
school enrolment, lift child problems - including poor internet
nutrition levels in the country and, access, diversion of resources
as a by-product, help boost the and extortion of illegal fees by
incomes of cooks and farmers. So officials at the state level - that
far, 9.5 million pupils have been have limited its impact
fed in 52,604 schools across 30 Ÿ Government Enterprise and
states, while 101,913 cooks are Empowerment Programme
being employed. (GEEP) is an initiative by the
Ÿ N-Power: This is a scheme set up Federal Government of Nigeria to
by the Federal Government since provide financial inclusion and
8 June 2016, to address the access to micro-credit for
issues of youth unemployment Nigerians at the bottom of the
and provide a structure for large economic pyramid. GEEP aims to
scale and relevant work skills provide capital to beneficiaries in
acquisition and development an easily accessible way to grow
such that participant are selected their business and on-board
and sent to their primary place of these beneficiaries into the formal
assignment (PPA) to learn a financial system through bank
particular work. It is a work and accounts, mobile wallets, and
training programme for formal identities. The focus was
unemployed graduates and non- on traders, market cooperatives,
graduates, aged between 18-35 market women , youths, farmers
years. For graduates, the scheme and Agricultural workers. The loan
employs them to work in range from 10,000 to 350,000
education, health, agriculture, tax with a tenor of six month, a two
and monitoring professions and in week moratorium with zero
return they can receive a N30,000 interest rate but with an
monthly allowance, plus their administrative fee of 2.5-5%
wages. For non-graduates, it Ÿ National Collateral Registry:
involves training and internships This was set up to facilitate the
in construction, automobile, use of movable property as

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collateral for bank borrowing, several constraints which had

particularly to support MSMEs. By bedevilled its growth and
mid- 2018, 369 financial development. These challenges
institutions, including 340 Micro- include.
finance banks, 21 commercial Inadequate Funds: There is always
banks, 4 merchant banks and 4 inadequate start-up capital from the
development finance institutions personal savings of owner-managers
had enrolled in the registry. and the contribution from friends and
Ÿ Agricultural Credit Guarantee relatives, as well as restricted access
Scheme (ACGSF) This was first to institutional finance, banks and
established in the (1973) but capital market mostly due inability to
recapitalized to N3billion in 2001. provide collateral securities, high
The fund guarantee credit interest and short tenor of facilities.
facilities offered to farmers by Infrastructural Deficits: The
banks up to 75% of the amount in inadequate infrastructural base
default net of any security coupled with the decay or deplorable
realized. The scheme fund has conditions of the available ones has
between 1978 and first quarter of posed formidable obstacle to SMEs
2 0 11 s u p p o r t e d 7 0 1 , 0 0 0 performance and hence call for
beneficiaries with a total loan of urgent attention by the government
N43.12 billion. (Ojo, 2006:26). Essential services
Ÿ The Bank of Industry In 2002, such as telecommunication, access
the NERFUND and NIDB merge roads, electricity and water are either
to form the BOI with the target to not available at all or grossly
provide credit at 10% to the inadequate, thus constraining SMEs
industrial sector including SMEs. development; as such cost is
estimated to constitute about 15-20
The re-establishment and percent of the cost of establishing a
proposed re-invigoration of manufacturing enterprise in Nigeria
Entrepreneurship
Development Centres to Overbearing regulatory and
support entrepreneurs acquire operational environment: It has
skills to establish and expand been reported that the plethora of
business geared to support job regulatory institutions, multiple taxes,
creation (CBN, January 2018). cumbersome importation procedures
and high port charges have
contributed to the unconducive
INHIBITORS TO SMES operational environment of SMEs in
DEVELOPMENT IN NIGERIA Nigeria
SMEs potentials to add value to the F i n a n c i a l
economic progress of Nigeria had not Recklessness/Corruption: Apart
been fully manifested, owing to from the limited financial capacity of

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SMEs, as is the case in most the entrepreneur in terms of character

developing countries, coupled with and many more key strategic factors,
their poor record keeping, most of the one of the key factors for fully
SMEs promoters deliberately divert developing new firm is the full-time
borrowed fund to ostentatious living commitment of the owner manager
such as acquisition of Chieftaincy and subordinates. One of the biggest
titles, more wives, over sea trips etc, problems for small firms is recruiting,
thereby exacerbating their financial motivating, and retaining employees.
difficulties. The aftermath is poor
performance or outright collapse THE WAY FORWARD
(Omoruyi & Okonofua, 2006:24) Infrastructural Development
Restricted Market: the insufficient Availability of basic functional
demands for the product of small infrastructures in both the rural and
SMEs primarily due to preferences for urban areas is imperative to the
imported goods by most Nigerians performance of SMEs. This is because
weakens the demand and exacerbate t h e c o s t o f p r o v i d i n g p o w e r,
the performance of SMEs in Nigerian. telecommunication and other basic
Deficiency in Policy infrastructural facilities is about 20% of
implementation: It has been the total cost of operating an SMEs in
discovered that Government policies Nigeria. If these facilities are provided,
regarding SMEs are inadequate. funds hitherto drained through efforts
Moreover, the few existing policies are to provide these amenities will now be
mostly inappropriate, inconsistent and divested into more productive
are poorly implemented. operations. The result will be
expanded operations of MSMEs
Lack of Managerial skill :
Entrepreneurial skill and acumen are Improve the ease of Doing
largely a function of education, Business: Government should
experience and exposure which in provide the proper atmosphere in
most cases are lacking in small and terms of proper information, clear
medium enterprises. The aftermaths of accounting standards, impartial legal
these deficiencies are Poor business system, favorable tax policies, safety
entity Principles, ineffective planning and Security etc for proper SMEs
and control, poor record keeping as performance.
well as faulty investment decision due Over time, Nigeria has been regarded
to poor evaluation of projects as a country where doing business is
Lack of Human Resource/Technical difficult. As part of the objective of
Competence attracting FDI, facilitating trade and
improving international
The performance of SMEs is not only competitiveness, the government set
related to only the financial aspect. It out in 2016, a presidential initiative,
also depends on the characteristics of called the Presidential Enabling

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Business Environment Council it is the most appealing form of

(PEBEC) to focus on improving the structure for the following reasons.
ease of doing business in the country.
The overall effect of the reforms Possibility of more capital
carried out up was to improve contribution which will allow better
Nigeria's position in the World flexibility and more potential for
growth and more potential profit,
Bank's Ease of Doing Business 2017
report to 145 out of 169. However, the Shared Risk/Responsibility
country has slipped one place in Proper Decision Making – More
2018, not because any reforms have partners mean more brains that can
been reversed, but because other solve complex business problems.
countries are improving faster.
Ensure Technical Competence -
Educational/Value Orientation: Different partners can bring their core
Most SMEs entrepreneurs have competence and professionalism to
inadequate educational/training or the business.
are illiterates. The aftermath of this
inadequacy are poor feasibility Flexibility – A partnership is
reports, poor management skills, lack generally easier to form, manage and
of proper accounting procedures etc. run. They are less strictly regulated
SMEs entrepreneurs should be than companies in terms of the laws,
supported to acquiring a minimum taxes, management etc if all the
level of training even in an informal partners can agree.
setting. Government should provide Privacy and Confidentiality -
through its agencies such as NDE etc Partnerships aren’t required to
free and compulsory courses for publicly disclose their financial and
SMEs owners. There should be a organizational information to the
value orientation concerning the public. This ensures that certain
syndrome of not embarking on any business strategies & models are
meaningful activities but hoping to be leaked outside.
rich as well as the negative attitudes
towards “made in Nigeria goods”
Continues fighting of corruption Think Big, Start Small but Learn
Curbing corruption is a challenge that Fast
requires persevering on many fronts Look at the full range of possible
persistently and continuously over futures. Don’t be satisfied with the
years. It might take time but at the end current situation. Move out of your
it pays huge dividends comfort zone and explore new
Partnerships: Is when two or more development and possibilities but
people come to together to form a “start small” after thinking big. Rather
business. Except for disagreements, than jumping on the bandwagon for
one potentially big product, break the

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idea down into smaller pieces and focus, political sabotage, poor
don’t lock in on financial projections implementation among others. It is
based on wishful thinking. Learn fast therefore beyond doubt that the
by asking the necessary/difficult underdevelopment of SMEs is a
questions and seek mentorship principal reason for the under
performance of our economy as well
Time Management as the increasing and worrisome
Plan ahead, organize yourself, set incidence of poverty in the Country.
time limit to complete task and avoid It therefore our view that Nigeria s
non-essential tasks/activities ability to break out of its current
Wear the garment of a unimpressive economic performance
Businessman in term of alleviating poverty will
depend to large extend on its ability to
- the capability to control the harness the huge potentials buried in
mind and feelings. They MSMEs. The Government should
should have create enabling financial,
- the attitude to act proactively infrastructural, institutional, legal,
and not overreact in any socio-economic, and political
situation. environment that will allow MSMEs to
operate profitably. The time to move
- Be focused and consistent forward is now. The way to get started
with determination. is to stop the talking and start doing
- The ability to negotiate Every something.
business activity
CONCLUSION Thank you and God bless you
MSMEs have huge potentials to serve
as the engine room for the
development of any economy,
especially the developing ones like
Nigeria. These potentials which
include employment generation, rural
development, wealth creation etc, will
remain buried and unprofitable if
MSMEs capacity and abilities are not
enhanced through empowerment.
The past experiences were ad hoc
programmes are used to promote
MSMEs operations had either failed
out rightly or yielded no significance
result, due to poor funding, lack of

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Page 25
Vision: Mission:
“For all men in Bayelsa Baptist “To create opportunity for
Conference to be spiritaually development and growth in
strengthened and active for the MMU at all levels.
God’s Work.

HOW TO ACTIVATE THIS VISION

Build our men
Get the men involved
Be mission-minded
Teach the word
Ensure salvation experience
Develop rich programmes
Create a love atmosphere
Develop Mission programmes/activites
Engage in outreach
Plant and fund church planting
Ensure positive participation
Identify potentials
Be responsible men
For comments and contributions please call:
Pst. Hilton - (08037603209)
Ebi - (08063576423)