The Speaker of the House of Representatives, Mr . Yakubu Dogara , has decried difficulties faced by Nigerians in accessing bank loans.
Dogara made this known in his keynote address at a launch of the book “ Banking Reform in Nigeria ” on Monday in Abuja .
He said that Nigerians were discouraged in managing their businesses as a result of their inability to access loans from banks .
“ I have had cause to say this before , that unless you have assets or equipment , there is no way you can take a loan, or access loans from Nigerian banks to do business .
“ If you are not careful in taking loans from Nigerian banks , one will just end up in the poverty gap .
“ I don ’t think our citizens are supposed to do their businesses with money they already have in their pockets . Businesses elsewhere are executed by loans from the banking industry in those countries .
“ I don’ t know why the interest rate in Nigeria is so high . What is it that we can do to lower it so that our young entrepreneurs can take money from our financial institutions in order to realize their dreams .
“ That has been the challenge , from the point of view of the Executive down to the Parliament, the ‘political will’ to address this has not been there,” he said.
He , therefore, called on all stakeholders to join hands in ensuring improved banking institutions for better development .
“ And the answer has always been that just one opinion cannot solve the issue , all hands need to work at it .