How Nigerian SMEs Can Improve Credit Access Amid Tight Liquidity

Olusegun Sonowo, a senior bank executive in Lagos, highlights that SMEs in Nigeria face challenges accessing credit due to poor record-keeping. Maintaining transparent financial behavior is crucial for banks to support SMEs in a strict credit environment with high interest rates.

Infracredit is mentioned as a support for long-term projects. The article emphasizes the need for credit literacy among borrowers to enhance the credit ecosystem and advises entrepreneurs to build savings before seeking loans.