COVID-19: Association urges FG to include members in N50bn CBN Stimulus Package

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By Gami Tadanyigbe

Abuja – The United Furniture Dealers Of Nigeria, has called on the Federal to include its members as beneficiaries of the N50 billion Targeted Credit Facility (TCF) stimulus package to save the industry from collapsing.
The News Agency of Nigeria (NAN) reports that CBN had in March announced the release of N50 billion TCF stimulus package to support households and Micro Small and Medium Enterprises (MSMEs) affected by -19 pandemic.
Chief Emeka Egwuekwe, president of the made the call in an interview with News Agency of Nigeria (NAN) shortly after the distribution of palliatives to some communities in Abuja on Saturday.
According to him, the furniture industry has lost over N600 million during the COVID-19 lockdown noting that a lot of companies would shut down after the pandemic.
“The should look into the furniture-making industry to save our members from going out of business after this COVID-19 pandemic.
” I want the include our members in the CBN’s N50 billion COVID-19 TCF.
“Our members need this bailout as the furniture industry provides over 6,000 jobs,” he said.
Egwuekwe, who is also the Managing Director of Prince Interior Furniture and Furnishing Company Ltd. said the palliatives was part of his corporate social responsibility and way of giving back to the society.
“A lot of companies will go into extinction as most of our raw materials are imported from China.
“Our members are losing money. We call on the federal to save our businesses,” he said.
Egwuekwe also said that as part of the ’s contribution to contain the spread of the Covid-19, members have organised in communities and churches through radio jingles and mobilised health officials to enlighten the people.
NAN reports that the distributed food stuffs, bags of rice, Noddles, hand sanitizers, face masks and cash donations at Kugbo1 and Kugbo2 and furniture market in FCT. (NAN)